Real earnings up 7.5% in Jan-Nov 2016
Along with a 0.3% rise in consumer prices, real earnings increased by 7.5% in the January-November period of 2016, as compared to the corresponding period a year earlier, according to a first reading of data issued today by the Central Statistical Office (KSH).
Regular gross earnings — without premiums and one-month bonuses — increased by 0.1 percentage point less than average gross earnings. Along with the 6.2% increase in gross earnings, net earnings grew by 7.8% due to changes in personal income tax rules, according to the KSH.
Wages and salaries according to the SNA concept were 6.1% higher than a year earlier. Full-time employees’ average gross nominal earnings according to the national concept amounted to HUF 260,800 at corporations employing at least five persons, budgetary and designated non-profit institutions, according to the KSH. Average net earnings in the January-November period – excluding family tax benefits – were HUF 173,500 by the national concept, the KSH added.
Monthly average gross wages and salaries according to the SNA concept amounted to HUF 274,400, while the share of other wages and salaries was 4.9% on average, KSH data show.
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