In April 2020, average gross earnings amounted to HUF 400,200, 7.8% higher than a year earlier, with the economic impacts of the coronavirus pandemic affecting wage growth negatively, according to data released by the Central Statistical Office (KSH).
In April 2020, full-time employees’ average gross nominal earnings - as defined by KSH - at corporations employing at least 5 persons, at budgetary institutions and significant non-profit organizations in respect of employment, amounted to HUF 400,200 and excluding fostered workers to HUF 410,600.
Average net earnings were HUF 266,100 excluding tax benefits and HUF 275,500 including them.
Both average gross earnings and average net earnings excluding tax benefits grew by 7.8%. Average net earnings including tax benefits rose to a greater extent, by 8.3%, 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 regular earnings were estimated at HUF 361,900, 8.1% higher than a year before.
In the first four months of 2020, full-time employees’ average gross nominal earnings, amounted to HUF 388,000 and excluding fostered workers to HUF 397,900.
Average net earnings were HUF 258,000 excluding tax benefits, and HUF 266,700 including them.
Both average gross earnings and average net earnings without tax benefits rose by 8.7%, average net earnings including tax benefits increased by 9% compared to the same period of the previous year.
Average gross earnings were the highest in the financial and insurance activities sections (HUF 732,200) and the lowest (HUF 247,700) in accommodation and food service activities.
Full-time employees’ average gross earnings amounted to HUF 424,200 for men and to HUF 352,400 for women, representing increases of 8.4% for men and 9.2% for women within one year.
The average gross earnings of full-time employees under the age of 25 reached HUF 283,900, for those between 25–54 years of age were HUF 404,700 and HUF 372,000 for those over 54 years old. The year-on-year growth of earnings in the above age groups were 4.2%, 8.8%, and 7.3% respectively.
Average gross regular earnings were estimated at HUF 359,200, which is 8.5% higher than a year before.
Along with the 3,9% rise in consumer prices compared to the same period of the previous year, real earnings increased by 4.6%, the statistical agency reports.