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Hungary Jobless Rate Unexpectedly Eases To 4-year Low

Hungary's unemployment rate eased unexpectedly in the three months to January to its lowest level in four years, figures from the Central Statistical Office showed on Wednesday.

The jobless rate fell to 8.9 percent from 9.1 percent in the three months to December. Economists had forecast a rate of 9.3 percent. A year ago, it was 11.2 percent.

The unemployment rate eased for a third consecutive month and is the lowest since January 2009, when it was at 8.4 percent.

The number of unemployed fell to 392,500, the lowest since February 2009, from 403,300 in December.

The youth jobless rate edged up to 24.2 percent in January from 24.1 percent in December.

The statistical office also announced that employment grew in the three months to January. The figure rose to 4.030 million from 4.015 million in December and 3.854 million in the same month last year.

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