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Gross wages rise 3.5% in April

Gross wages in Hungary rose 3.5% in the twelve months to April 2009 and net wages were up 2.7%, the Central Statistical Office (KSH) said.

Wage growth slowed after rising in March. January-April 2009 gross wages rose 1.1% and net wages increased 0.8% from a year earlier. Calculating with twelve-month inflation of 3.4% in April and 3.1% in January-April, real wages fell 0.7% yr/yr in April and fell 2.2% yr/yr in the first four months. January-April gross wages rose 4.9% in the business sector.

A 7.5% gross wage fall in the public sector mostly reflected changes in the payment of annual bonuses. Regular gross wages, which exclude bonuses and one-off factors, rose 5.6% yr/yr in the business sector in January-April and rose 2.1% in the public sector in the period.

Regular gross wages rose 4.6% overall from a year earlier in the first four months of this year. (MTI – Econews)