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Hungariansʼ real wages up 7.5% in Jan-Aug

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Real wages in Hungary saw a 7.5% increase in the January-August period, as compared to the corresponding period of 2015, while average gross earnings were up 6%, Hungary’s Central Statistical Office (KSH) said today in a first reading of data.

In August, average gross nominal monthly earnings of full-time employees, according to the national concept, amounted to HUF 258,300 at corporations employing at least five people, budgetary and designated non-profit institutions, the KSH reported. Average net earnings by the national concept were HUF 171,700 excluding family tax benefits, and HUF 178,900 including them, the KSH added.

Along with the 6.9% increase in gross earnings, net earnings grew by 8.5% compared to the equivalent period of the previous year due to changes in personal income tax rules, according to the KSH. 

In the January-August period, average gross nominal monthly earnings of full-time employees amounted to HUF 257,900 at corporations employing at least five persons, budgetary and designated non-profit institutions, according to the national concept, the KSH reported.

Average net monthly earnings – excluding family tax benefits – were HUF 171,500 by the national concept, while average gross monthly wages and salaries according to the SNA concept amounted to HUF 271,200, according to the KSH.

Regular gross earnings and average gross earnings increased at the same rate, by 6.0%, while wages and salaries according to the SNA concept were 5.9% higher than a year earlier.

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