Average Gross Earnings at HUF 563,600 in November

Figures

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Full-time employees’ average gross earnings amounted to HUF 563,600 in November 2022, according to data published by the Central Statistical Office (KSH).

Excluding fostered workers, it came to HUF 574,100.

Average net earnings were HUF 374,800 excluding tax benefits and HUF 387,800 including them.

Both average gross earnings and average net earnings excluding tax benefits grew by 16.8%. Average net earnings including tax benefits grew by 17.6%, compared to the same period of the previous year.

Estimated average gross regular earnings (gross earnings without premiums and one-month bonuses) are HUF 495,200, some 20.2% higher than a year earlier.

Real earnings fell by 4.7%, along with a 22.5% year-on-year increase in consumer prices.

Gross median earnings reached HUF 441,800, surpassing the previous year’s value by 17.6%.

Net median earnings including tax benefits were HUF 305,800, surpassing by 19.2% last November's value.

Jan-Nov Average Gross Earnings at HUF 509,700

IN January-November 2022, full-time employees’ average gross earnings amounted to HUF 509,700, and excluding fostered workers to HUF 520,300.

Average net earnings reached HUF 339,000 excluding tax benefits and HUF 351,200 including them.

Both average gross earnings and average net earnings without tax benefits went up by 17.5%, and average net earnings including tax benefits grew by 18.2% year-on-year. The outstanding growth is due in the first place to the planned wage raises in certain government branches, as well as the increase carried out in 2022 in the minimum wage and the minimum wage for skilled workers, KSH noted.

The highest average gross earnings were recorded in the financial and insurance activities section (HUF 847,500), and the lowest ones were in accommodation and food service activities (HUF 318,700).

Average gross earnings amounted to HUF 558,600 for full-time male employees and to HUF 463,100 for full-time female employees, representing increases of 18.1% for males and 16.6% for females over a year.

Estimated regular average gross earnings are HUF 467,500, approximately 16.1% higher than a year earlier.

Regular average gross earnings reached HUF 471,400 in the business sector, HUF 448,000 in the budgetary sector, and HUF 496,800 in the non-profit sector, representing growths of 14.8%, 16.8%, and 27.3%, compared to the previous year. The reclassification of several educational institutions from the budgetary into the non-profit sector, following a change in their controlling authority in August 2021, contributed to the above-average increase in regular average earnings in the non-profit sector, as such a significant base effect was still present in the first semester of the year.

Real earnings rose by 3.4%, along with a 13.6% year-on-year increase in consumer prices.

Gross median earnings were HUF 400,000, surpassing the previous year’s value by 15%.

Net median earnings including tax benefits were HUF 278,800, about 17.1% higher than in the previous year.

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