Avg gross earnings at HUF 395,400 in Jan-Aug

Figures

Photo by Liptak Robert / Shutterstock.com

In January–August 2020 average gross earnings amounted to HUF 395,400, while average net earnings without tax benefits were HUF 262,900, according to data released by the Central Statistical Office (KSH).

Photo by Liptak Robert/Shutterstock.com

Excluding fostered workers, average gross earnings came to HUF 406,000. Including tax benefits, average net earnings reached HUF 271,800.

Both average gross earnings and average net earnings without tax benefits rose by 9.9%, average net earnings including tax benefits increased by 10.2% 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 711,200) and the lowest (HUF 250,100) in accommodation and food service activities.

Full-time employees’ average gross earnings amounted to HUF 429,600 for men and to HUF 362,900 for women, representing increases of 9.2% for men and 10.9% for women within one year.

Average gross regular earnings (gross earnings without premiums and one-month bonuses) were estimated at HUF 367,300, 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 6.2%.

Avg gross earnings at HUF 391,600 in August

Full-time employees’ average gross nominal earnings amounted to HUF 391,600 and excluding fostered workers were HUF 402,400.

Average net earnings were HUF 260,400 excluding tax benefits and HUF 269,000 including them.

Both average gross earnings and average net earnings excluding tax benefits grew equally, by 9.1%. Average net earnings including tax benefits rose to a greater extent, by 9.3%, compared to the same period of the previous year.

Average gross regular earnings were estimated at HUF 375,200, 9.7% higher than a year before.

ADVERTISEMENT

Századvég raises GDP forecast to 7.8% Analysis

Századvég raises GDP forecast to 7.8%

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New editor-in-chief at Betone Studio Appointments

New editor-in-chief at Betone Studio

Budapest leaders make public transport free for under-14s City

Budapest leaders make public transport free for under-14s

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.