Talks between employers, unions and the government on next year’s minimum wage increase are ongoing.
Évosz said that an annual 10-11% minimum wage increase in 2026-2027 could only be implemented parallel with a number of economic development measures, more favorable lending conditions, and an improvement in industrial efficiency.
Évosz noted that wages in the construction sector had risen 17.5%, on average, in 2023 and were set to climb by 12% in 2024. It added that wages in the sector were still just 80% of the national average for the business sector.
Évosz said order stock was under 80% of last year’s levels at around 90% of businesses, adding that redundancies couldn’t be excluded given the circumstances. It also pointed to the impact of exchange rates on the sector.
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