Average gross earnings at HUF 397,400 in October

Figures

In October 2020 average gross earnings stood at HUF 397,400, about 8.8% higher than a year earlier, according to data released by the Central Statistical Office (KSH).

Full-time employees’ average gross earnings excluding fostered workers amounted to HUF 408,100 in October 2020.

Average net earnings were HUF 264,200 excluding tax benefits and HUF 272,900 including them.

Both average gross earnings and average net earnings excluding tax benefits grew equally, by 8.8%. Average net earnings including tax benefits rose to a greater extent, by 9.1%, compared to the same period of 2019.

Average gross regular earnings (gross earnings without premiums and one-month bonuses) were estimated at HUF 377,200, which is 9.5% higher than a year before.

Average gross earnings at HUF 395,300 in January-October

Full-time employees’ average gross earnings amounted to HUF 395,300 and excluding fostered workers to HUF 405,900 in January-October 2020.

Average net earnings were HUF 262,900 excluding tax benefits, and HUF 271,700 including them.

Both average gross earnings and average net earnings without tax benefits rose by 9.7%, average net earnings including tax benefits increased by 9.9% 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.

Average gross earnings were the highest in the financial and insurance activities sections (HUF 700,500) and the lowest (HUF 250,000) in accommodation and food service activities.

Full-time employees’ average gross earnings amounted to HUF 430,200 for men and to HUF 362,600 for women, representing increases of 9.2% for men and 10.4% for women within one year.

Average gross regular earnings were estimated at HUF 369,100, which is 9.2% 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%.

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