Average gross earnings at HUF 392,300 in September

Figures

Photo by Liptak Robert / Shutterstock.com

In September 2020, average gross earnings stood at HUF 392,300, 8.8% higher than a year earlier, according to data released by the Central Statistical Office (KSH).

Photo by Liptak Robert/Shutterstock.com

In September, full-time employees’ average gross earnings amounted to HUF 392,300, coming to HUF 402,900 excluding fostered workers.

Average net earnings were HUF 260,900 excluding tax benefits and HUF 269,500 including them.

Both average gross earnings and average net earnings excluding tax benefits grew equally, by 8.8% year-on-year. Average net earnings including tax benefits rose by 8.9% compared to the same period of the previous year.

Average gross regular earnings (gross earnings without premiums and one-month bonuses) were estimated at HUF 373,200, 8.6% higher than a year before.

January-September average gross earnings at HUF 395,000

Full-time employees’ average gross earnings amounted to HUF 395,000 and excluding fostered workers to HUF 405,600 in January-September 2020.

Average net earnings were HUF 262,700 excluding tax benefits, and HUF 271,500 including them.

Both average gross earnings and average net earnings without tax benefits rose by 9.8%, average net earnings including tax benefits increased by 10% compared to the same period of the previous year, in relation to a temporary decrease as well as the elimination of social security payment obligations in certain economic branches, KSH notes

Average gross earnings were the highest in the financial and insurance activities sections (HUF 705,000) and the lowest (HUF 249,900) in accommodation and food service activities.

Full-time employees’ average gross earnings amounted to HUF 429,500 for men and to HUF 362,500 for women, representing increases of 9.1% for men and 10.6% for women within one year.

Average gross regular earnings were estimated at HUF 368,200, up 9.2% year-on-year.

Along with the 3.5% rise in consumer prices compared to the same period of the previous year, real earnings increased by 6.1%.

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