Average Gross Earnings at HUF 564,400 in October

Figures

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Full-time employees’ average gross earnings were HUF 564,400 in October, some 14% higher than a year earlier, according to data published by the Central Statistical Office (KSH).

Regular average gross earnings (without premiums and one-month bonuses) were estimated at HUF 540,200, about 14.5% higher than a year earlier. Regular average gross earnings amounted to HUF 545,000 in the business sector, HUF 517,300 in the budgetary sector and HUF 556,300 in the non-profit sector, rising by 14.9%, 12.1% and 15.8%, respectively, over a year.

Average net earnings reached HUF 375,300, excluding tax benefits, and HUF 389,300, including them, both of which were 14% higher than in October 2022.

Real earnings were up by 3.7%, along with a 9.9% increase in consumer prices compared to the same period of the previous year.

Median gross earnings were HUF 456,300, being 14.4% above the level a year earlier.

Median net earnings including tax benefits reached HUF 318,300, surpassing the value for the same period of the previous year by 15.3%.

Jan-Oct Average Gross Earnings Reach HUF 557,800

Full-time employees’ average gross earnings were HUF 557,800 in January-October 2023.

Average net earnings reached HUF 370,900, excluding tax benefits, and HUF 384,600, including tax benefits.

Average gross earnings, average net earnings excluding tax benefits as well as net earnings including tax benefits increased equally by 14.0% compared to the same period of the previous year.

The change in average earnings was affected by a service premium, the ‘firearms money’, for the army and the law enforcement personnel, corresponding to six months’ salary and paid in February 2022. Without this effect, the growths in average gross earnings and in average net earnings including tax benefits would be 1.6 percentage points higher each, KSH explains.

 

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