KSH: Hungary’s net wage grows 7.3% in June
The average gross monthly wage in Hungary was HUF 259,875 in June, up 5.7% from the same period a year earlier, while net wages grew even faster, rising 7.3% to HUF 172,818 a month, Hungary’s Central Statistical Office (KSH) reported today, in a first release of data.
Excluding the 218,200 Hungarians in fostered work programs, the average gross wage rose 6.3% to HUF 275,735, while net wages increased 7.9% to HUF 183,364, Hungarian news agency MTI reported based on KSH data. Full-time fostered workers earned gross HUF 78,615 on average during the month, 1.6% less than in the same period a year earlier, MTI added.
Including fostered workers, about 2,993,400 people were employed in positions requiring them to work at least 60 hours a month on average in Hungary in June, 3.1% more than a year earlier. Excluding fostered workers, the number rose 2.6% to 2,775,200.
In the first half of the year, average gross earnings in Hungary increased by 6% compared to the same period last year while the minimum wage and the guaranteed minimum wage were up by 5.7%. Due to the 1 percentage point reduction in the rate of personal income tax, in the first six months of the year, there was a rise in average net earnings of 7.6%, a higher increase than that in average gross earnings, according to KSH.
In the first half, full-time employees’ average gross nominal earnings, according to the national concept, amounted to HUF 258,000 at corporations employing at least 5 persons and at budgetary and designated non-profit institutions. Average gross earnings were highest in the financial and insurance fields (HUF 527,200) and lowest in the human health and social work areas (HUF 149,400), according to KSH.
Hungary Gasoline Prices 3% Over Regional Avg
Hungary to Address Future of Cohesion Policy During EU Presi...
Cordia’s Marina City Project Begins
Budapest Airport Wins 'Best Airport in Eastern Europe' for 1...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
