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Gross wage growth reaches 10.1% in August

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The average gross monthly wage in Hungary stood at HUF 321,200 in August, up 10.1% year-on-year, the Central Statistical Office (KSH) reported in a first release published on its website on October 19.

Gross earnings growth has been in the double digits since early last year, lifted by an agreement on minimum wage increases as well as labor shortages. The average net monthly wage was HUF 213,600, also up 10.1%. The average monthly wage included about HUF 11,291 in bonuses and benefits.

Excluding some 114,500 Hungarians in so-called fostered (public) work programs, gross wages rose 8.8% to HUF 331,410, while net wages stood at HUF 220,387. Fostered workers working full-time earned a gross monthly HUF 81,471 on average in August, 0.1% less than a year earlier. Real wage growth came to 6.5%, calculating with an August CPI of 3.4%.

In the business sector, which includes state-owned companies, gross wages were up 11.4% at HUF 332,174 in August. Excluding fostered workers, they rose 11.2% to HUF 332,706.

In the public sector, gross wages climbed 6.1% to HUF 299,648. The rise was 2.4% excluding fostered workers, to HUF 332,636 a month.

Hungarians working in industry earned a gross monthly HUF 340,070 on average in August. Construction workers earned HUF 247,120, those in the ICT sector made HUF 543,577, and those in finance and insurance received HUF 544,224.

The poorest earners remained those working in the education sector, where the average gross wage was HUF 318,088, and in health and social services, where it was HUF 220,180 per month.

In January-August 2018, the average gross monthly wage stood at HUF 324,300 and the average net monthly wage at HUF 215,700, both up 11.8% from the same period of last year. Real wages in January-August were up 9%, the KSH said.

Wage data for September, and for the first three quarters of 2018, will be published by the KSH on November 22.

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