ADVERTISEMENT

Gross wages in Hungary said to rise 3.1% in July

Music

Gross wages in Hungary saw a year-on-year rise of 3.1% in July, reaching HUF 244,171, while net wages rose at the same pace to reach HUF 159,933, Hungary’s Central Statistical Office (KSH) said today. These figures include workers employed by the government, who are paid less than minimum wage to perform menial labor.

KSH said that excluding the impact of the fostered workers, who earned just HUF 79,599 in July, gross wages were up 3.8% at HUF 257,922.

KSH data suggest that Hungarian employees took home a monthly regular pay of HUF 231,705, up 4.0% up in one year, while bonuses reached HUF 12,466 in July, on average, 10.6% less than in the same month a year earlier.

In the business sector, which includes state-owned companies, gross wages were up 3.7% at HUF 257,593, while in the public sector, gross wages increased 1.5% to HUF 218,603, KSH data show. Both figures include fostered workers. Excluding fostered workers, business sector wages rose 3.6% in twelve months to HUF 258,937 in July and public sector wages were up 3.8% at HUF 256,313.

According to KSH, the number of employed in Hungary saw an  y.o.y. increase of 2.9% reaching 2,921,600 in July, including 202,800 full-time fostered workers, up 13.2% from a year earlier.

ADVERTISEMENT

IMF raises Hungary 2021 GDP growth forecast to 7.6% Analysis

IMF raises Hungary 2021 GDP growth forecast to 7.6%

Parliament approves amendment to Competition Act Parliament

Parliament approves amendment to Competition Act

New CEO announced at Codic Hungary Appointments

New CEO announced at Codic Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

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.