The unemployment rate remained at 4.3% in July

By: Trademagazin Date: 2025. 08. 28. 11:31

In July, the number of employed persons among the working-age population aged 15–74 was 4,712,000, which is 32,500 higher than the June level, but 14,000 lower than the June level last year.

A similar trend is visible in the three-month data: in the period between May and July 2025, the average number of employed persons among those aged 15–74 was 4,680,000. This is an improvement of almost 20,000 compared to the previous low of more than 3 years, but still weaker than the level a year ago.

The unemployment rate remained at 4.3% in July 2025, down from 4.5% to 4.3% in the three-month data. The one-month unemployment rate was in line with our expectations and better than the market consensus of 4.4%. In July, the number of unemployed people decreased by 1,200 compared to the previous month, an improvement of 1.7 thousand compared to the data a year earlier.

According to the records of the National Employment Service, the number of registered job seekers at the end of July was 221 thousand, which is a 1.4% decrease compared to the previous year, and a 0.6% decrease on a monthly basis. After the seasonal increase typical of the winter months, the number of job seekers has been decreasing since April, this trend was reversed in July and showed a slight increase.

Employers announced 42.3 thousand vacancies in July, which is a 75% increase on a monthly basis. However, this increase was primarily due to the summer student work program.