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No fixed wage rise recommendation for private sector

Three employer associations and two unions reached an agreement with the government that wage rises are needed in the private sector, but the parties did not set a fixed recommendation for 2016 for the extent of the pay increase, the National Economy Ministry (NGM) said yesterday, according to Hungarian news agency MTI.

The agreement reached at the VKF, a broad forum of representatives from the private sector and the government responsible for wage talks, says that differentiated wage rises are needed this year to react to the changing environment on the labor market. 

The parties agreed that wage rises should happen in as broad a spectrum as possible without jeopardizing jobs. The agreement takes note of using benefits and perks to preserve or improve the income of employees. 

Unions association MaSzSz did not sign the agreement, and instead recommended modifications and further talks.