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Avg gross earnings at HUF 395,400 in Jan-Aug

In January–August 2020 average gross earnings amounted to HUF 395,400, while average net earnings without tax benefits were HUF 262,900, according to data released by the Central Statistical Office (KSH).

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Excluding fostered workers, average gross earnings came to HUF 406,000. Including tax benefits, average net earnings reached HUF 271,800.

Both average gross earnings and average net earnings without tax benefits rose by 9.9%, average net earnings including tax benefits increased by 10.2% compared to the same period of the previous year, in relation to a temporary decrease as well as the elimination of social security payment obligations in certain economic branches, KSH notes.

Average gross earnings were the highest in the financial and insurance activities sections (HUF 711,200) and the lowest (HUF 250,100) in accommodation and food service activities.

Full-time employees’ average gross earnings amounted to HUF 429,600 for men and to HUF 362,900 for women, representing increases of 9.2% for men and 10.9% for women within one year.

Average gross regular earnings (gross earnings without premiums and one-month bonuses) were estimated at HUF 367,300, 9.2% higher than a year before.

Along with the 3.5% rise in consumer prices compared to the same period of the previous year, real earnings increased by 6.2%.

Avg gross earnings at HUF 391,600 in August

Full-time employees’ average gross nominal earnings amounted to HUF 391,600 and excluding fostered workers were HUF 402,400.

Average net earnings were HUF 260,400 excluding tax benefits and HUF 269,000 including them.

Both average gross earnings and average net earnings excluding tax benefits grew equally, by 9.1%. Average net earnings including tax benefits rose to a greater extent, by 9.3%, compared to the same period of the previous year.

Average gross regular earnings were estimated at HUF 375,200, 9.7% higher than a year before.