Gross wage growth slows to 5.2% yr/yr in September
Gross wages in Hungary rose 5.2% yr/yr in September, the Central Statistics Office (KSH) said on Friday.
Wage growth slowed from a 6.5% increase yr/yr in August. Wage growth in annual comparison accelerated from June’s 4.6% until August.
Gross wages rose 3.5% in twelve months in the business sector, slowing from 5.4% in August, and public sector gross wages were up 8.2% yr/yr, somewhat faster than the 8.0% increase in August.
Net wages rose 5.7% yr/yr in September after increasing 6.8 % in August. Net wages rose 5.6% yr/yr in the business sector after a rise of 7.2% in August, and were up 5.1% in the public sector, after adding 4.9 % in August.
January-September gross wages were up 4.4% yr/yr, including 4.9% higher wages in the business sector and 2.3% higher wages in the public sector.
January-September net wages were up 5.7 % yr/yr. They grew 7.5% in the business sector, and 0.8% in the public sector.
Net wages rose over twelve-month inflation of 3.6 % in September - unchanged from August - and 3.9% in the first nine months.
Public sector wages include the wages of those employed in public work schemes.
The number of employees was 2.715m in September, 1.1% less than a year ago. Employment has been under its year ago level since May this year. In September, numbers grew in the business sector by 0.8% and decreased by 6.2% in the public sector.
In January-September, average number of employees was 2.691m, 0.1% less than a year ago. Business sector employment increased 1.7% while workplaces were 4.9% fewer in the public sector.
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.