2014.04.2504:38:00UTC+00Hungary Jobless Rate Drops Further To 8.3%

The unemployment rate in Hungary eased for a fifth consecutive month in March to its lowest level in more than five years, the figures from the Hungarian Central Statistical Office showed Friday.

The jobless rate fell to 8.3 percent in the three months to March from 8.6 percent in the three months to February. The rate is the lowest since December 2008, when it was 8 percent.

Economists had forecast the figure to remain unchanged from the previous month. The first quarter jobless rate is lower than the 9.1 percent logged in the three months to December.

The youth unemployment rate, which applies to the 15-24 age group, eased to 21.4 percent in March from 23.3 percent in February. It is also the lowest since December 2008, when the figure was 19.7 percent.

The total number of unemployed dropped to 369,700 in March from 379,400 in February. The figure is the lowest since January 2009.

The statistical office also announced that the number of employed grew to 4.08 million in the three months to March from 4.05 million in the three months to February. In the three months to December, the figure was 4.02 million.