The downward trend of unemployment between June and August was broken

By: Trademagazin Date: 2024. 09. 30. 12:01

In the three-month period showing the labor market trend, on average from June to August, the number of employed people among the working-age population between 15-74 years was 4 million 752 thousand, 31 thousand more than a year earlier. For this period, the number of employed people increased, compared to the average of the previous three months. Between June and August, the average number of people working in public employment was 58,000, 10,000 fewer than a year ago, while the average number of employees at foreign locations was 108,300, essentially unchanged. Within the age group between 15 and 64, which is prioritized in the EU methodology, the domestic employment rate rose to 75.2%, surpassing the 74.8% a year earlier and the 75.1% value of the previous three data releases.

The average number of unemployed people in the examined period was 211,400, which is 12,000 more than last year’s level. The latter represents an annual increase of 5.8%. Since March 2023, this is the second period in which the annual percentage increase in the number of unemployed is only in the single digits. The unemployment rate rose from the previous three-month average of 4.2% to 4.3%, 0.2 percentage points higher than a year earlier. The level of the potential labor reserve (in addition to the unemployed, the underemployed, those who intend to work but are not actively looking for work, as well as the inactive who would not be able to start work within two weeks even if they could find a suitable job) in the June-August period is 315, It amounted to 3 thousand people, showing an increase of 9.4 thousand compared to the previous year.

Based on the records of the National Employment Service, the number of registered job seekers at the end of July was 224,600, nearly 4,000 fewer than a year earlier. 79.3 thousand of them (or 35.3% of all jobseekers) have been in the register without interruption for at least one year. In August 2024, 136.9 thousand job opportunities were available, of which 95.0 thousand remained empty by the end of the month.