Average gross earnings at HUF 414,400 in February
Photo by Liptak Robert / Shutterstock.com
In February 2021, full-time employees’ gross average earnings were HUF 414,400, up 9.8% year-on-year, according to data released by the Central Statistical Office (KSH).
Excluding fostered workers, average gross earnings amounted to HUF 425,100.
Average net earnings excluding tax benefits were HUF 275,600 and HUF 284,100 including them.
Both average gross earnings and average net earnings excluding tax benefits grew equally, by 9.8%. Net earnings including tax benefits rose by 9.5% compared to February 2020.
Average gross regular earnings (gross earnings without premiums and one-month bonuses) stood at HUF 391,100, approximately 10.7% higher than a year before.
Avg gross earnings reach HUF 412,000 in January-February
In January-February, full-time employees’ average gross earnings amounted to HUF 412,700 and excluding fostered workers to HUF 423,400. Average net earnings were HUF 274,500 excluding tax benefits, and HUF 282,300 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 9.4% compared to the same period of the previous year.
Average gross earnings were the highest in information and communication (HUF 711,800) and the lowest (HUF 250,100) in accommodation and food service activities, KSH notes.
Gross average earnings reached HUF 424,700 in the business sector, HUF 390,800 in the budgetary sector, and HUF 362,700 at non-profit organizations representing growths of 8.7%, 13.4%, and 8.2% respectively, compared to January-February 2020. Due to planned wage raises in certain government branches – including the pay raise of doctors, judges, and prosecutors, and employees of nurseries – the growth of average wages in the budgetary sector exceeded that of the national economy, the statistical agency explains.
Full-time employees’ average gross earnings amounted to HUF 448,500 for men and to HUF 377,800 for women, representing increases of 9.3% for men and 10.3% for women within one year.
Average gross regular earnings were estimated at HUF 390,700, these were 10.3% higher than a year before.
Along with the 2.9% rise in consumer prices compared to the same period of the previous year, real earnings increased by 6.6%.
ADVERTISEMENT
Hungary Trade Surplus at EUR 308 mln in April
Parl't Approves Amendments to Legislation on Judiciary
Masterplast Sets up JV with Market Épitő
Landmark Budapest Dept Store to Reopen After HUF 8 bln Renov...
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.
