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Gross wages up 10.4% in September

Telco

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The average gross monthly wage in Hungary rose 10.4% year-on-year to HUF 322,752 in September, the Central Statistical Office (KSH) said on Thursday. Net wages grew at the same pace as gross wages, also climbing 10.4% to HUF 214,630.

In January–September 2018, average gross earnings amounted to HUF 324,100, and average net earnings to HUF 215,500, both up 11.7% compared to the corresponding period of the previous year.

Average gross monthly earnings were the highest in financial and insurance activities (HUF 600,200), and the lowest (HUF 209,600) in accommodation and food service activities in the period.

Regular gross earnings (gross earnings without premiums and one-month bonuses) amounted to HUF 304,200 in January–September.

An upsurge in labor demand, rises of 8% in the minimum wage and 12% in the guaranteed minimum wage, as well as salary adjustments affecting specific areas of the public sector and the employees of some state-owned public service companies, had an impact on earnings growth, the KSH said.

Along with the 2.7% rise in consumer prices compared to the same period of the previous year, real earnings increased by 8.8% in January–September 2018.

Calculating with September 12-month inflation of 3.6%, real wages were up 6.56% in September alone, state news wire MTI noted.

Earnings data for October and for the period January-October 2018 will be published by the KSH on December 20.

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