Hungary’s gross wages rise 7.8% yr/yr in July
Gross monthly wages in Hungary rose 7.8% in the twelve months to July, while net wages increased 6.9% in the period, the Central Statistics Office (KSH) said on Wednesday.
Real wages - calculated with July twelve-month inflation of 6.7% - rose 0.2% year-on-year in July. Gross wages rose 8.3% in the business sector and increased 7.1% in the public sector in the year to July 2008.
Average gross wages stood at Ft 195,252 (€814) in July, resulting from an average gross wage of Ft 189,972 in the business sector and Ft 211,195 in the public sector. Net wages were up 7.1% in the business sector and 6.7% in the public sector compared to July of last year. January-July average gross wages were up 8.1% from a year earlier, including a 9.7% increase in the business sector and a 5.6% increase in the public sector.
Calculated without monthly bonuses and extraordinary one-off payments, regular gross wages rose 7.7% in January-July as the result of 8.8% rise in the business sector and 5.8% in the public sector. Regular gross wages rose 7.5% in manufacturing industries, 7.7% in the construction sector, but increased well above the average at 10.1% in agriculture.
In the service sector, regular gross wages rose 12.9% in the real-estate and renting sector and grew 10.3% in the wholesale and retail-trade and repair sector. Regular wages were up just 5.8% in the transport and telecom sector.
A 7.7% wage increase in the public administration and defense sector outpaced the average rate in the public sector, but regular wages in the education sector rose just 2.9% in the first seven months of 2008. (MTI-Econews)
ADVERTISEMENT
ÁKK Cutting Premiums on PMÁP
Parl't Approves Amendments to Legislation on Judiciary
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.
