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KSH: Gross wages up 3.7% in June

Analysis

Average gross wages in Hungary rose 3.7% year-on-year in June, the latest publication of the Central Statistics Office (KSH) revealed today. Wage growth went slightly down from 4.9% year-on-year in May.

Excluding fostered workers, who are paid by the state and earn less than the minimum wage, average gross wages rose 4.1% year-on-year in June, slightly up from 4 % in May.

The gross wage of fostered workers employed full time rose 5.8% year-on-year in June, a figure unchanged since May.

Gross regular wages - excluding premiums and bonuses - rose 4.9% overall in the twelve months to June. They rose by 5.3% if the wages of fostered workers were excluded.

Gross wages in the business sector rose 4.8% year-on-year in June, slowing from a 4.3% increase in May. Excluding fostered workers, business sector wages rose 4.9% in the period. Net wages in the sector rose 5.3% in June - at the highest rate since over a year – and increased by 5.4% excluding fostered workers.

Gross earnings in the public sector were up by a mere 1.4%, after rising 6.3% in the previous month. Net wage growth slowed to 4.3% year-on-year, from an outstanding 10.7% in May. Premiums and bonuses were lower than a year earlier in both months. Excluding fostered workers, gross wages were up by 2.6% in the public sector and net wages rose 5.6% from June 2013.

Average gross earnings in the public sector have steadily grown since the summer of 2013, boosted by a retroactive wage rise in the health sector and by a rise in teachers' pay.

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