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Average gross earnings up 13.1% y.o.y. in December

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Photo by Liptak Robert / Shutterstock.com

Average gross earnings amounted to HUF 406,400 in December 2019, about 13.1% higher than in the same period of 2018, according to data by the Central Statistical Office (KSH).

Photo by Liptak Robert/Shutterstock.com

Excluding fostered workers, average gross earnings amounted to HUF 417,700 in December. 

KSH says that average net earnings were HUF 270,200 excluding tax benefits and HUF 278,000 including them.

Average gross earnings and average net earnings excluding tax benefits rose by 13.1%, while average net earnings including tax benefits went up by 13.2% compared to the same period of 2018. 

The statistical agency says that the wage growth was driven by the increase of non-regular earnings such as bonuses and premiums. 

Looking at all 12 months of 2019, average gross earnings came to HUF 367,800, while average net earnings amounted to HUF 244,600. Both of them grew by 11.4% compared to the same period of 2018. Average net earnings came HUF 244,600 excluding tax benefits and HUF 252,100 including them.

KSH says that average gross earnings were the highest in financial and insurance activities (HUF 665,400) and the lowest (HUF 239,600) in accommodation and food service activities.

The gender wage gap was still considerable last year, as full-time employees’ average gross earnings amounted to HUF 403,600 for men and to HUF 335,800 for women, representing increases of 12.3% and 10.8%, respectively over one year.

The average gross earnings of full-time employees under the age of 25 reached HUF 285,000. The earnings came to HUF 384,800 for those between 25–54 years of age and HUF 363,100 for those over 54 years old. The year-on-year growth of earnings in the three age groups was 17.2%, 11.9%, and 11.3%, respectively.

KSH said that gross earnings without premiums and one-month bonuses came to HUF 339,300, 10.4% higher than a year earlier.

Considering the 3.4% year-on-year rise in consumer, real earnings increased by 7.7%.

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