KSH: unemployment data proved to be better than expected

Unemployment data published by the Central Statistical Office (KSH):
Hungary's average employment rate for July-September fell to 10.9%, while the number of employed rose to 3,823,000, KSH said in the morning.

The average unemployment rate for the full year is likely to reach 11% in 2010 and fall to 10.5% in 2011, Suppan said.

Most analysts say that the data were better than expected but attributed part of the improvement to the late start of seasonal work in Hungary's farm sector. It is unclear to what degree the slow pickup in growth will offset the loss of these jobs in the winter months, he added.

He put average unemployment for the full year at 11.1% in 2010 and 10.5% in 2011.