Are you sure?

Hungariansʼ gross wages climb 14.4% in June

In June 2017, average gross nominal monthly earnings amounted to HUF 297,300, 14.4% higher than a year earlier, the Central Statistical Office (KSH) said today in a first release of data for the first half of the year.

In June 2017, full-time employees’ average gross nominal monthly earnings according to the national concept amounted to HUF 297,300 at corporations employing at least five persons, budgetary and designated non-profit institutions. 

Average net monthly earnings by the national concept were HUF 197,700 excluding family tax benefits and HUF 205,500 including them.

Both gross earnings and net earnings grew by 14.4% compared to the same period of the previous year.

In January–June 2017, full-time employees’ average gross nominal monthly earnings according to the national concept amounted to HUF 290,300 at corporations employing at least five persons, budgetary and designated non-profit institutions.

In the first six months of the year, both gross and net earnings grew by 12.5% compared to the corresponding period of the previous year. Rises of 15% in the minimum wage and 25% in the guaranteed minimum wage, as well as salary adjustments affecting specific areas of the public sector and the employees of state-owned public service companies, had an impact on earnings growth, the KSH said.

Average gross monthly earnings were the highest in financial and insurance activities (HUF 574,100), and the lowest in human health and social work activities (HUF 179,800).

Average net earnings – excluding family tax benefits – were HUF 193,100 by the national concept.

In 2017, family tax benefits rose in the case of families with two children, which had an effect on the amount and change in net earnings. Taking into account family tax benefits, average net monthly earnings are estimated to be HUF 201,000.

According to SNA concept

Monthly average gross wages and salaries according to the SNA concept amounted to HUF 304,400. Within this indicator, the share of other wages and salaries was 4.6% on average.

Both gross earnings and net earnings grew to the same extent, by 12.5% over one year.

Along with the 2.3% rise in consumer prices compared to the same period of the previous year, real earnings increased by 10.0%.

Regular gross earnings (gross earnings without premiums and one-month bonus) increased slightly more than average gross earnings, by 12.6%.

Wages and salaries according to the SNA concept were 12.2% higher than a year earlier.

Excluding the 169,000 Hungarians in public "fostered" work programs in June, the average gross monthly wage rose 12.9% to HUF 311,388. Net monthly wages stood at HUF 207,073. The number of fostered workers was down from 218,200 in the same month a year earlier.