KSH: Gross wages grew 6.7% in December
The average gross wage in Hungary rose by a year-on-year 6.7% to HUF 257,452 in December due to larger year-end bonuses, while net earnings increased at the same pace to HUF 168,630, data released by the Central Statistics Office (KSH) today reveal.
According to KSH, real wages were up by 7.7%, including the 0.9% CPI drop in December. For the whole year, gross and net wages rose 3.0%.
Bonuses on average rose by 26.5% to HUF 30,627 during the period, with bonuses in the private sector increasing by 13.3% to HUF 36,692 and public-sector bonuses rising by 114.3% to HUF 17,804.
Excluding the 188,600 Hungarians in fostered work programs, the average gross wage climbed by 6.5% to HUF 271,699. Net wages rose at the same clip to HUF 177,963. Fostered workers accounted for about 6.6% of all employed Hungarians in December. Fostered workers in full-time jobs earned on average gross HUF 76,729 during the month.
The average gross wage in the business sector, including state-owned companies, rose 5.6% to HUF 277,057. Workers in the financial sector had the biggest paychecks in December, earning an average gross of HUF 531,345, up by a year-on-year 8.1%.
The average gross wage in the public sector increased by 8.6% to HUF 218,714 and, excluding fostered workers, public sector wages rose 8.9% to HUF 255,092. The average wage of Hungarians in the public administration and defense sectors rose by 11.2% to HUF 285,197, while wages of healthcare and social services workers were up by 5.0% at HUF 143,554. Hungarians in the education sector earned HUF 255,161, 6.4% more than a year earlier. Manufacturing sector wages averaged HUF 268,789, up 5.3%.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.