Wage growth could return next year

Analysis

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If the economy restarts and there is no fourth wave, the double-digit rate of wage growth of more than 10% that was typical of previous years may return, László Perlusz, secretary-general of the National Association of Entrepreneurs and Employers (VOSZ), told business daily Világgazdaság.

The burden on employers will continue to decline next year, and the planned reduction in the social contribution tax and the abolition of the vocational training contribution could provide strong support for wage growth.

The official added that wage growth is not expected to be uniform; in crisis-stricken sectors such as tourism and hospitality, there is a good chance of wage liberalization; in fields such as parts manufacturing or the automotive industry, the dynamics may be more subdued.

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