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Unemployment Rate Falls to 3.9% in September

HUNGARY
  • Hungary’s unemployment rate fell slightly from 4% in August to 3.9% in September (Est: 4%). The rolling three-month average jobless rate stood at 4.1%, unchanged from August and up from 3.6% twelve months earlier.
  • Hungary's strong ties with China could accelerate the country's convergence, Prime Minister Orban said in a weekly interview on public radio that was cited by MTI. "We have an excellent relationship with this economic power, inherited even from earlier times....That's a great opportunity if we can translate it into the language of economic ties," he said.
  • On the EU, Orban said change is needed in Brussels because the current leaders are unfit to handle the fluid situation in Ukraine. "It's clear that the Ukrainians will not win on the battlefield and the Russians will not be defeated on the battlefield, and there is no talk about the Russian president losing his position," Orban said.
  • Meanwhile, foreign minister Szijjarto said the EU is putting pressure on Hungary to curb its dependence on Russian energy yet the big barriers to diversification are Brussels' policies.
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