Gross wages up 13.6% y-o-y in September

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In January-September 2017, both gross and net earnings grew to the same extent, by 12.8% compared to the corresponding nine-month period of 2016. Rises in the minimum wage and salary adjustments in the public sector had an impact on earnings growth, the Central Statistical Office (KSH) said in a first release of earnings data for the period on Wednesday.

In September 2017, full-time employees’ average gross nominal monthly earnings according to the national concept amounted to HUF 292,900 at corporations employing at least five persons, budgetary and designated non-profit institutions.

Average net monthly earnings by the national concept were HUF 194,800 excluding family tax benefits, and HUF 202,700 including such benefits.

Both gross and net monthly earnings grew by 13.6% in September compared to the same month of the previous year.

Calculating with September twelve-month CPI of 2.5%, real wages were up 10.8%, national news agency MTI reported.

Excluding the 157,100 Hungarians in fostered work programs in September, the average gross monthly wage rose 12.2% to HUF 305,818, while net wages also increased 12.2% to HUF 203,368. The number of fostered workers was slightly down compared to the 160,500 registered in August.

Excluding fostered workers, business sector gross wages rose 11.5% year-on-year, and regular wages in the sector rose by 12%. Also without fostered workers, gross public sector wages were up 14.4% in the year to September.

In the first nine months

In January–September 2017, full-time employees’ average gross monthly nominal earnings according to the national concept amounted to HUF 290,900 at corporations employing at least five persons, budgetary and designated non-profit institutions.

Average gross monthly earnings were the highest in financial and insurance activities (HUF 559,500), and the lowest in human health and social work activities (HUF 181,100).

Average net monthly earnings – excluding family tax benefits – were HUF 193,400 by the national concept in the first nine months. In 2017, family tax benefits have risen in the case of families with two children, which had an effect on the amount and change in net earnings. Taking into account family tax benefits, average net monthly earnings in January-September are estimated to be HUF 201,300.

Monthly average gross wages and salaries according to the SNA concept amounted to HUF 304,900, 12.4% higher than a year earlier. Both gross and net earnings grew to the same extent, by 12.8% compared to the previous year.

Along with a 2.4% rise in consumer prices in January-September compared to the corresponding period of the previous year, real earnings increased by 10.2%.

The KSH noted that wages have been boosted by a higher minimum wage, as well as pay increases for social services and healthcare workers and some state employees.

Earnings data for January–October 2017 will be published by the KSH on December 20.

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