Real wages up 5.4% yr/yr in H1

Tourism

Real wages rose 5.4% year-on-year in January-June 2006, based on an 8.1% increase in net monthly wages and an average CPI of 2.6% during the period, the Central Statistics Office (KSH) announced today. Gross monthly wages rose 6.4% to Ft 165,705 (€610) in the twelve months to June, and net wages rose 7.4% to Ft 109,281 during the same period. In the H1 of 2006, gross monthly wages rose 7.2% year-on-year to Ft 168,205 and net monthly wages were up 8.1% at Ft 110,675. Total work income, including extra-wage benefits and in-kind contributions, rose 7.4% to Ft 177,100. Extra-wage benefits and in-kind contributions accounted for 5.0% of total work income on average during the period. In June, gross monthly wages in the private sector rose 6.5% year-on-year to Ft 157,576.

Net wages were up 7.4% at Ft 105,399. January-June gross monthly wages averaged Ft 155,120 in the private sector, up 7.8% year-on-year and net private sector wages rose 8.6% in the period to Ft 105,399 a month. Gross monthly wages in the public sector increased 6.4% in the twelve months to June to Ft 185,166, while net wages rose 7.2% to Ft 118,505. In January-June, gross public sector wages averaged Ft 200,705 a month, up 6.5% in one year, and net wages in the sector averaged Ft 126,339, up 7.5% (the six month’s average, in this sector, includes the one month extra payment as well which is paid in January).

Gross monthly wages of blue-collar workers rose 8.6% year-on-year to Ft 110,260 in June, while gross monthly wages of white collar workers were up 5.0% at Ft 230,003. January-June gross monthly blue-collar wages averaged Ft 108,289, up 7.9% in one year, and gross white-collar wages averaged Ft 236,669, up 6.6%. The number of employees at companies with a staff of more than five and central budget-funded institutions averaged 2,810 million in June, 0.3% more than in the same month a year earlier. The number of employees in the private sector grew 0.7% to 1,936 million and the number of public sector employees fell a marked 2.1% to 802,900. (Econews, vg.hu)

ADVERTISEMENT

Business, consumer confidence improves - Századvég Analysis

Business, consumer confidence improves - Századvég

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New managing director at the helm of Wolt Hungary Appointments

New managing director at the helm of Wolt Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

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.