Average Gross Earnings at HUF 577,900 in March
While average gross earnings rose by 16.6%, real earnings fell by 6.9%, thanks to an outstanding 25.2% inflation rate.
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In March 2023, full-time employees’ average gross earnings in Hungary were HUF 577,900, according to data published by the Central Statistical Office (KSH).
Compared to March 2022, average gross earnings rose by 16.6%.
Estimated average gross regular earnings (gross earnings without premiums and one-month bonuses) were HUF 520,600, some 15.7% higher than a year earlier.
Regular average gross earnings reached HUF 528,500 in the business sector, HUF 492,300 in the budgetary sector, and HUF 522,300 in the non-profit sector, representing growths of 17.4%, 11,9%, and 10% compared to the previous year.
Average net earnings were HUF 384,300 excluding tax benefits and HUF 398,000 including them, being 16.6% and 16.5% higher than a year earlier.
Real earnings fell by 6.9%, along with an outstanding 25.2% increase in consumer prices compared to the same period of the previous year.
Median gross earnings reached HUF 440,700, surpassing the previous year’s value by 16.3%.
Median net earnings including tax benefits were HUF 305,900, surpassing the value for the same period of the previous year by 15.7%.
January-March Average Gross Earnings at HUF 545,700
In January-March, full-time employees’ average gross earnings amounted to HUF 545,700.
Average net earnings were HUF 362,900, excluding tax benefits, and HUF 376,100, including tax benefits.
Both average gross earnings and average net earnings excluding tax benefits increased by 10.8%, while net earnings including tax benefits rose by 10.9% compared to the same period of the previous year.
The change in average earnings was affected by the last year’s February payment of the “service premium” (the so-called “firearms money”) for the army and law enforcement personnel corresponding to a six-month salary. Without this effect, the rise of the average gross earnings and the average net earnings including tax benefits would be higher by 5.3 and 5.7 percentage points, respectively.
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