Wages up 10.6% year-on-year
In June 2019, average gross earnings amounted to HUF 364,800, 10.6% higher than a year earlier, with average gross earnings in January-June 2019 amounting to HUF 359,500, with average net earnings reaching HUF 239,000 in H1 2019, according to the Central Statistical Agency (KSH).
In June 2019, average gross earnings amounted to HUF 375,100 when excluding those on public works schemes (so-called fostered workers).
Average net earnings were HUF 242,600 excluding tax benefits and HUF 250,100 including them. Both average gross earnings and average net earnings grew by 10.6% compared to the same period of the previous year.
In H1 2019, full-time employees’ average gross nominal earnings amounted to HUF 359,500 and to HUF 369,900 excluding fostered workers. Average net earnings were HUF 239,000 excluding tax benefits, and HUF 246,400 including them.
Both average gross earnings and average net earnings excluding tax benefits grew by 10.6%, while average net earnings including tax benefits rose by 10.7% compared to the H1 2018.
Highs and lows
Average gross earnings were the highest in financial and insurance activities (HUF 672,300) and the lowest (HUF 236,300) in accommodation and food service activities.
Full-time employees’ average gross earnings amounted to HUF 393,700 for men and to HUF 325,700 for women, representing increases of 11.3% and 9.6%, respectively over one year.
Average gross earnings of full time employees under the age of 25 reached HUF 275,200, were HUF 374,500 for those between 25–54 years of age and HUF 351,200 for those above 54 years. The year-on-year growth of earnings in these age groups were 16.8%, 10.8% and 10.1% respectively.
Average gross regular earnings (gross earnings without premiums and one-month bonuses) were estimated at HUF 334,600, 10.5% higher than a year earlier.
Along with the 3.5% rise in consumer prices compared to the same period of the previous year, real earnings increased by 6.9%.
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