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Hungary gross wages drop 4.6% yr/yr in December, rise 1.4% in 2010

Gross wages in Hungary declined 4.6% in the twelve months to December as wages dropped both in the business and in the public sector in the period, the Central Statistics Office (KSH) said on Friday.

The twelve-month decline was the second one in a row and reflected the sharp drop in bonus payments in both sectors.  Gross wages fell 2.2% yr/yr in the business sector in December after a 1.6% rise in November.

Business sector gross wages rose for the first time since comparable figures are available from the start of 2006. Excluding bonuses and one-off payments, business sector regular gross wages rose 3.0% in December.

Gross wages in the public sector fell a sharp 10.3% in the twelve months to December after a 7.8% decline in November. The figures include the low wages of those on public work schemes.  Regular public sector gross wages rose 0.4% yr/yr in December.

Gross wages rose on average rose 1.4% in 2010 after rising just 0.6% in 2009. Business sector gross wages were up 3.3% last year after rising 4.3% in 2009. Including the wages of workers on public work schemes, public sector gross wages fell 2.7% in 2010 after a 7.9% drop in 2009.