Decline in Unemployment Among the Youngest and Oldest

The age group of 15-24 years saw a decrease in unemployment from a peak of 68,000 in 2014 to 40,000 by 2023, marking a significant reduction of over 40%. Similarly, for those aged 55-74 years, unemployment decreased from 40,000 in 2014 to 29,000 in 2023. These trends indicate a positive shift towards lower unemployment rates among the youngest and oldest segments of the workforce.

Substantial Reduction in Middle-Aged Unemployment

The group aged 25-54 years experienced a notable decrease in unemployment, dropping from 235,000 in 2014 to 134,000 by 2023. This represents a substantial reduction of over 43%, highlighting significant improvements in employment opportunities for the prime working-age population over the past decade.

Highest Unemployment Numbers in Mid-Decade

Unemployment across all age groups reached its peak around the middle of the last decade, with 2015 recording the highest figures: 59,000 for ages 15-24, 210,000 for ages 25-54, and 39,000 for ages 55-74. These numbers underscore a period of economic challenge that has since seen a gradual but consistent improvement.

Stabilization in Youth Unemployment After a Peak

After reaching a peak in 2014 with 68,000 unemployed individuals aged 15-24, the unemployment rate for this age group fluctuated before stabilizing. By 2023, the number was at 40,000, showing resilience and recovery in youth employment sectors.

Significant Unemployment Reduction for the Prime Working-Age Group Since 2015

For the prime working-age group (25-54 years), unemployment saw a sharp decline from its peak in 2015 at 210,000 to 134,000 in 2023. This decrease underscores significant strides towards economic recovery and employment stability for this demographic, highlighting a successful period of job creation and/or economic adjustments beneficial to this group.

Elderly Unemployment Shows Least Variation

The unemployment figures for the 55-74 years age group have shown the least variation over the years, with a modest increase from 17,000 in 2019 to 29,000 in 2023. This stability suggests that the employment situation for the elderly has been relatively steady, with less dramatic changes compared to younger demographics.

General Trend Towards Recovery

Analyzing the data from 2014 to 2023, a general trend towards recovery is evident across all age groups in Hungary. The consistent decrease in unemployment rates across the board reflects broader economic improvements, better job opportunities, and possibly effective policies targeting employment growth and stability.