Average Gross Earnings at HUF 510,500 in October
While both average gross earnings and average net earnings excluding tax benefits grew by 18.4% compared to October 2021, real earnings fell by 2.2%, thanks to a 21.1% year-on-year increase in consumer prices.
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In October 2022, full-time employees’ gross average earnings were HUF 510,500 in Hungary, according to data released by the Central Statistical Office (KSH).
Excluding fostered workers, gross average earnings amounted to HUF 519,800.
Average net earnings were HUF 339,500 excluding tax benefits and HUF 352,000 including them.
Both average gross earnings and average net earnings excluding tax benefits grew by 18.4%. Average net earnings including tax benefits (as well as tax and contribution exemptions) grew by 19.1%, compared to the same period of the previous year.
Average gross regular earnings (gross earnings without premiums and one-month bonuses) are estimated at HUF 486,400, some 18.5% higher than a year earlier.
Real earnings fell by 2.2%, along with a 21.1% year-on-year increase in consumer prices, KSH notes.
Gross median earnings reached HUF 414,000, surpassing the previous year’s value by 18.3%.
Net median earnings including tax benefits were HUF 287,900, about 19.7% higher than the October 2021 value.
January-October Gross Average Earnings at HUF 504,300
Full-time employees’ average gross earnings amounted to HUF 504,300 in January-October 2022, and excluding fostered workers, it came to HUF 514,800.
Average net earnings reached HUF 335,400 excluding tax benefits and HUF 347,500 including them.
Both average gross earnings and average net earnings without tax benefits went up by 17.6%, and average net earnings including tax benefits grew by 18.3% year-on-year. The main reason behind the growth is the planned wage raise in certain government branches, as well as the increase carried out in 2022 in the minimum wage and the minimum wage for skilled workers.
The highest average gross earnings were recorded in the financial and insurance activities sections (HUF 844,100), and the lowest ones were in accommodation and food service activities (HUF 316,700).
Average gross earnings amounted to HUF 552,500 for full-time male employees and to HUF 457,700 for full-time female employees, representing increases of 18.1% for males and 16.6% for females over a year.
Regular average gross earnings during the period are estimated at HUF 464,800, being 15.7% higher than a year earlier.
Regular average gross earnings reached HUF 468,500 in the business sector, HUF 445,500 in the budgetary sector, and HUF 493,800 in the non-profit sector, representing growths of 14.3%, 16.2% and 28.5%, compared to the previous year. The reclassification of several educational institutions from the budgetary into the non-profit sector, following a change in their controlling authority in August 2021, contributed to the above-average increase in regular average earnings in the non-profit sector, as such a significant base effect was still present in the first semester of the year, KSH explains.
Real earnings rose by 4.3%, along with a 12.7% year-on-year increase in consumer prices.
Gross median earnings were HUF 398,300, surpassing the previous year’s value by 15.4%.
Net median earnings including tax benefits were HUF 276,000, about 16.9% higher than in the previous year.
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