Average gross earnings above HUF 400,000 in March

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Photo by Liptak Robert / Shutterstock.com

In March 2020, average gross earnings in Hungary amounted to HUF 400,400, 9% higher than a year earlier, according to data released by the Central Statistical Office (KSH).

Image by Liptak Robert/Shutterstock.com

Excluding fostered workers, full-time employees’ average gross nominal earnings amounted to HUF 409,400.

Average net earnings were HUF 266,300 excluding tax benefits and HUF 275,700 including them.

Both average gross earnings and average net earnings excluding tax benefits grew by 9% compared to the same period of 2019. Average net earnings including tax benefits rose by 9.6%.

Average gross regular earnings (gross earnings without premiums and one-month bonuses) were estimated at HUF 366,100, 7.7% higher than a year before.

Q1 gross nominal earnings at HUF 384,200

In the first three months of 2020, full-time employees’ average gross nominal earnings amounted to HUF 384,200 (HUF 393,900 excluding fostered workers).

Average net earnings were HUF 255,500 excluding tax benefits, and HUF 264,000 including them.

Both average gross earnings and average net earnings without tax benefits rose by 9.1%, average net earnings including tax benefits increased by 9.3% compared to the same period of 2019.

Average gross earnings were the highest in the financial and insurance activities sections (HUF 682,300) and the lowest (HUF 250,200) in accommodation and food service activities, KSH says.

Full-time employees’ average gross earnings amounted to HUF 419,800 for men and to HUF 349,200 for women, representing increases of 9% for men and 9.1% for women over one year.

Average gross earnings of full-time employees under the age of 25 reached HUF 282,400, for those between 25–54 years of age were HUF 400,700 and HUF 368,800 for those over 54 years old. The year-on-year growth of earnings in the above age groups were 4.8%, 9.2% and 7.6% respectively.

Average gross regular earnings were estimated at HUF 358,400, which is 8.6% higher than a year before.

Along with the 4.3% rise in consumer prices compared to the same period of the previous year, real earnings increased by 4.6%.

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