Hungariansʼ net earnings up 6.7% y-o-y in July

Telco

Net monthly earnings in Hungary were up by 6.7% in July compared to the same month a year earlier, Hungary’s Central Statistical Office (KSH) reported today in a first release of data. Average net earnings at the national level were HUF 170,800, or HUF 178,000 including family tax benefits.

In July, average gross nominal earnings were up 5.1% compared to a year earlier, the KSH reports. Full-time employees thus earned a monthly HUF 256,900 on average at the national level, at corporations employing at least five persons, budgetary and designated non-profit institutions, KSH data show. 

In the January-July period, along with the 5.9% increase in gross earnings, net earnings grew by 7.5% due to changes in personal income tax rules, the KSH reports. Along with the 0.1% rise in consumer prices compared to the same period of the previous year, real earnings increased by 7.4%, the office notes.

Average gross nominal earnings of full-time employees in the January-July period amounted to HUF 257,900 at corporations employing at least five persons, budgetary and designated non-profit institutions. Average gross earnings were the highest in the finance and insurance sectors (HUF 526,200), and the lowest in healthcare and social services (HUF 149,400), KSH data reveal.

ADVERTISEMENT

Business, consumer sentiment improve in January Analysis

Business, consumer sentiment improve in January

Márki-Zay tests positive for COVID-19 Elections

Márki-Zay tests positive for COVID-19

New leasing and sales director at Horizon Development Appointments

New leasing and sales director at Horizon Development

Gov't calls for technical screening of László Papp Arena City

Gov't calls for technical screening of László Papp Arena

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.