Hungary’s unemployment rate rose slightly to an average of 3.8% in the February-April period from 3.7% in January-March, the Central Statistical Office (KSH) said on Wednesday, adding that only partially reflects the effects of the coronavirus.
The novel coronavirus pandemic has hit Hungary’s economy as badly as many other countries as a lockdown was in place from mid-March and lifted gradually since early May, with most stores and service sector businesses closed for weeks.
The government expects an economic contraction of more than 3% in 2020 and a rebound in growth in 2021. The 2021 is based on a 4.8% growth projection.
The number of newly jobless in April swelled by 73,000, the KSH said, adding that 54,000 of those people boosted the inactive ranks as they are yet to formally begin their job search.
Via Reuters
