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KSH: Average gross earnings up 4.2% for 2015

Telco

Average gross earnings in 2015 increased by 4.2% compared to the previous year with salary increases of armed forces and additional allowance for those working in the social services sector having an impact on earnings growth in December, according to a first release of data issued by Hungary’s Central Statistical Office today.

During the period of January to December 2015, the average gross nominal earnings of full-time employees, according to the national concept, amounted to HUF 247,800 at corporations employing at least five individuals, as well as at budgetary and designated non-profit institutions, KSH data reveal.

Average gross earnings were the highest for those performing financial and insurance activities (HUF 494,000) and the lowest for those working in human health and social work sectors (HUF 146,800), while average net earnings – excluding family tax benefits – were HUF 162,300 by national concept, according to KSH.

Due to unchanged earnings related contributions and personal income tax rules, both net and gross earnings rose by 4.2% in the period of January to December 2015, as compared to the same period of the previous year, KSH noted. Disregarding earnings data for fostered workers who earn on average HUF 79,912 per month, earnings grew by 4.5% in the national economy, within this, by 3.8% in the business sector, 6.3% at budgetary institutions and 3.2% at non-profit organizations.

The 0.1 percentage point decrease in consumer prices in 2015 resulted in an increase of 4.3% in real earnings while regular earnings (gross earnings without premiums and one-month bonus) increased by 0.2 percentage points less than gross earnings during the year, KSH added.

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