In June 2020, average gross earnings amounted to HUF 421,700, 15.6% higher than a year earlier, with a one-time HUF 500,000 bonus received by healthcare workers accounting for a significant part of the growth, according to data released by the Central Statistical Office (KSH).
Excluding fostered workers, full-time employees’ average gross nominal earnings were HUF 434,000.
Average net earnings were HUF 280,500 excluding tax benefits and HUF 290,200 including them.
Both average gross earnings and average net earnings excluding tax benefits grew equally, by 15.6%. Average net earnings including tax benefits rose to a greater extent, by 16%, 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 (gross earnings without premiums and one-month bonuses) were estimated at HUF 375,900, 10.6% higher than a year before.
In January-June 2020, full-time employees’ average gross nominal earnings amounted to HUF 395,000 and excluding fostered workers to HUF 405,400.
Average net earnings were HUF 262,200 excluding tax benefits, and HUF 271,600 including them.
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.
Average gross earnings were the highest in the financial and insurance activities sections (HUF 723,500) and the lowest (HUF 249,900) in accommodation and food service activities.
Full-time employees’ average gross earnings amounted to HUF 429,000 for men and to HUF 362,100 for women, representing increases of 9% for men and 11.2% for women within one year.
Average gross earnings of full-time employees under the age of 25 reached HUF 287,700, for those between 25–54 years of age were HUF 411,300 and HUF 381,400 for those aged over 54. The year-on-year growth of earnings in the above age groups were 4.6%, 9.8%, and 8.6% respectively.
Average gross regular earnings were estimated at HUF 364,500, 9% higher than a year before.
Along with the 3,4% rise in consumer prices compared to the same period of the previous year, real earnings increased by 6.3%.