June 29, 2020 / 7:03 AM / 9 days ago

Hungary jobless rate rises to 4.1% in March-May - stats

BUDAPEST, June 29 (Reuters) - Hungary’s unemployment rate rose to an average of 4.1% in the March-May period from 3.8% in February-April, the Central Statistical Office (KSH) said on Monday, in data that first reflects the initial 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 jobless rose by 28,000 in May from April, down from a monthly rise of 73,000 in April, the KSH said. (Reporting by Marton Dunai)

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