KSH: Hungary’s average gross earnings up 4% in Jan-Oct
Average gross earnings were up 4% year-on-year in the period of January-October, pushed up to HUF 243,600 a month by increases in the salary of armed forces workers and the payment of an additional allowance for those employed in social work fields in October, Hungary’s Central Statistical Office KSH said today.
Average take-home pay – excluding family tax benefits – was HUF 159,500 per month, KSH reported.
Excluding the 209,800 Hungarians in fostered work programs, the average gross monthly wage was up by a y.o.y. 5.6% to HUF 263,377, while net wages increased at the same rate to HUF 172,513, in the period, Hungarian news agency MTI said, based on data by KSH. Full-time fostered workers earned gross HUF 78,551 on average during the month, it added.
Due to unchanged earnings related contributions and personal income tax rules, both net and gross earnings rose by 4%, KSH noted in an explanation of the growth in the period. Disregarding average earnings data of fostered workers, earnings grew by 4.1% in the national economy, 3.7% in the business sector, 5.2% at budgetary institutions and 2.8% at non-profit organizations, KSH said.
KSH added that the 0.2 percentage point decrease in consumer prices resulted in an increase of 4.2% in real earnings, while regular earnings (gross earnings without premiums and one-month bonus) increased by 0.2 percentage point less than gross earnings and wages, and salaries according to the SNA concept rose by 3.9%.
ADVERTISEMENT
EBRD Forecasts Slight Contraction for Hungarian Economy in 2...
Gov't Extends Deposit Rate Cap Till Year-end
Media Markt Sanctioned for False Advertising
'Creating CEElicon' Valley in Focus of HVCA Investment Confe...
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.
