Average gross earnings at HUF 395,900 in January-July
Photo by Liptak Robert / Shutterstock.com
In January–July 2020, average gross earnings amounted to HUF 395,900, while average net earnings came to HUF 263,300; both up 10% compared to the same period of the previous year, according to data published by statistical agency KSH.
Photo by Liptak Robert/Shutterstock.com
Excluding fostered workers, full-time employeesʼ average gross nominal earnings amounted to HUF 406,500. Average net earnings were HUF 263,300 excluding tax benefits, and HUF 272,200 including them.
Both average gross earnings and average net earnings without tax benefits rose by 10%, average net earnings including tax benefits increased by 10.3% compared to the same period of the previous year.
Average gross earnings were the highest in the financial and insurance activities sections (HUF 719,300) and the lowest (HUF 249,900) in accommodation and food service activities.
Full-time employees’ average gross earnings amounted to HUF 430,000 for men and to HUF 363,200 for women, representing increases of 9.2% for men and 11.2% for women within one year.
Average gross earnings of full-time employees under the age of 25 reached HUF 287,700, for those between 25–54 years of age were HUF 412,100 and HUF 383,800 for those aged over 54. The year-on-year growth of earnings in the above age groups was 4.2%, 9.9%, and 8.8% respectively.
Average gross regular earnings (gross earnings without premiums and one-month bonuses) stood at HUF 366,200, 9.1% higher than a year before.
Along with the 3.5% rise in consumer prices compared to the same period of the previous year, real earnings increased by 6.3%, KSH notes.
Average gross nominal earnings exceed HUF 400,000 in July
Average gross nominal earnings amounted stood at HUF 401,800 in July alone, amounting to HUF 413,400 without fostered workers. Average net earnings were HUF 267,200 excluding tax benefits and HUF 275,900 including them. Average gross regular earnings were estimated at HUF 376,300, 10% higher than a year before.
Both average gross earnings and average net earnings excluding tax benefits grew equally, by 10.8% compared to July 2019. Average net earnings including tax benefits rose to a greater extent, by 11%, compared to the same period of the previous year, in relation to a temporary decrease as well as elimination of social security payment obligations in certain economic branches, KSH notes.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.