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Salaries rise over 10% year-on-year

Gross salaries rose on average by HUF 30,000-40,000 in May year-on-year, the Central Statistical Office (KSH) reported, cited by pro-government daily Magyar Idők. The highest raises were in the sector of public administration.

In the healthcare system, gross salaries rose by 20%, reaching a monthly HUF 323,000 on average. In public administration, employees registered a HUF 35,000 pay rise over one year.

Magyar Idők added that together with salaries, companies also increased the number of their employees, to cope with the labor shortage on the market. However, in the private sector, salaries grew less sharply, by 10-14%.

Those working in the IT and telecom sector had the highest pay rises of on average HUF 55,000, reaching a monthly gross salary of HUF 515,000.

The most acute labor shortages have been registered in the science and technology sector, as well as in finance and insurance, tourism and hospitality, construction and other industrial areas. In these sectors, salary raises exceeded 10% year-on-year, Magyar Idők noted.