Hungariansʼ real wages up 7.5% in Jan-Aug
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.
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.