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Average gross earnings at HUF 375,200 in January

In January 2020, both average gross earnings and average net earnings grew by 9.2% compared to the same month of the previous year, according to data by the Central Statistical Office (KSH).

In January, full-time employees’ average gross nominal earnings amounted to HUF 375,200 and to HUF 385,300 excluding fostered workers.

Average net earnings were HUF 249,500 excluding tax benefits and HUF 256,900 including them.

Both average gross earnings and average net earnings excluding tax benefits grew by 9.2%, while average net earnings including tax benefits rose by 9.1% compared to January 2019.

Average gross earnings were the highest in financial and insurance activities (HUF 678,900) and the lowest (HUF 252,100) in accommodation and food service activities.

Full-time employees’ average gross earnings amounted to HUF 409,600 for men and to HUF 340,800 for women, representing year-on-year increases of 8.7% and 9.5%.

The average gross earnings of full-time employees under the age of 25 reached HUF 281,900. The average stood at HUF 390,100 for those between 25–54 years of age and HUF 361,400 for those over 54 years old. The year-on-year growth of earnings in the above age groups was 5.3%, 9.2%, and 7.7% respectively.

Average gross regular earnings (gross earnings without premiums and one-month bonuses) amounted to HUF 357,800, 10.3% higher than a year earlier.

Along with the 4.7% year-on-year rise in consumer prices compared, real earnings increased by 4.3%.

The effects of the coronavirus pandemic cannot be observed in the January earnings statistics, KSH notes.