Consultations Start on New Wage Agreement

HR

Image by Shutterstock.com

The VKF, a forum of employers, unions, and the government, has started consultations regarding next year's minimum wage and the guaranteed minimum wage for skilled workers, state secretary Zsolt Kutnyánszky said on Thursday at unions association Liga's event, according to a report by state news wire MTI.

The government's goal is for the sides to reach an agreement by the end of the year, he said.

The six-year wage agreement reached in 2017 was favorable for all parties. During the new negotiations the employer, employee, and government sides must take into account the experience of the previous agreement and current economic trends, he said.

The state secretary noted that there are structural tensions in Hungary's labor market. There are significant differences within the country, there is unemployment in some areas, while in others there is a labor shortage, but the Hungarian labor market is not mobile, he said.

The monthly minimum wage in Hungary rose 19% from January 1, 2022, to HUF 200,000 for unskilled laborers and to HUF 260,000 for skilled workers.

Hungary Account Deficit at EUR 561 mln in Q4 Debt

Hungary Account Deficit at EUR 561 mln in Q4

Moldovan Pensions to be Increased as of April 1 World

Moldovan Pensions to be Increased as of April 1

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic... Appointments

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic...

Hungarian Wine Marketing Agency to Host Summit Drinks

Hungarian Wine Marketing Agency to Host Summit

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.