Unemployment has dropped in Hungary, a new report suggests, with the average joblessness rate for 15 to 74-year-olds falling to 10.7 per cent between July and September.

This is down from the 10.8 per cent recorded between June and August, according to the Central Statistics Office. The number of unemployed people in this age range fell by 700 to the end of September, averaging 462,000, the Budapest Business Journal reports.

It was also found that approximately 49.7 per cent of unemployed Hungarians had been looking for work for one year or more, down from 51.5 per cent in the previous three-month period.

Furthermore, the average period of unemployment peaked at 17.9 months between July and September, falling from 18.6 months between June and August.

This comes after Eurostat revealed in September that the unemployment rate for August in the euro area was ten per cent, unchanged from July but a drop on the figure in August last year of 10.2 per cent.

Posted by Alex Donnell