Full-time employees saw their average net earnings, including tax benefits, rise to HUF 438,400, marking a 13.7% increase from the previous year.

The KSH report also highlighted a 9.4% rise in real earnings, supported by a 4.1% increase in consumer prices over the same period.

Regular average gross earnings, excluding bonuses and premiums, were estimated at HUF 602,200, a 14.3% increase compared to July 2023. The business sector saw regular average gross earnings of HUF 598,800, up 13.2%, while the budgetary and non-profit sectors posted increases of 17% and 18.2%, respectively, with earnings at HUF 604,400 and HUF 629,600.

Median gross earnings for full-time employees came in at HUF 524,100, representing a 16.5% increase from the previous year. Median net earnings, including tax benefits, stood at HUF 362,900, up by 16.6%.

For the January-July 2024 period, the average gross earnings reached HUF 635,000, with average net earnings, excluding tax benefits, at HUF 422,300 and HUF 437,100 with tax benefits. These figures reflect a 14% rise in gross earnings and a 13.8% increase in net earnings compared to the same period in 2023.