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Hungary's gross wages rise 8.1% yr/yr

Gross monthly wages in Hungary rose 8.1% year-on-year (yr/yr) in January-October, while net wages increased 7.2% in the period, the Central Statistical Office (KSH) reported on Wednesday.

Real wages rose 0.7% yr/yr in January-October.

Gross wage growth in the private sector fell to 8.0% from 9.0% while public sector wages rose by 10.2% after a 7.1% rise in September.

In October gross monthly wages rose 8.5% yr/yr and net wages increased 7.6%. Real wages increased 0.2% yr/yr in October.

In January-October real wages grew 0.5%, compared to a 5.2% drop the same period last year.

There were an average of 2,751,000 people employed in Hungary in the first ten months of the year, 723,000 in the public sector, down 4%, and 1,940,000 in the private sector, up 0.1%.

Gross average wage of full-time employees was HUF 195,100 in January-October, HUF 188,700 for private sector workers, up 9.3%, and HUF 214,700 for public sector employees, up 6.2%.

Regular wages without monthly benefits and bonuses increased an average 7.7% yr/yr in January-October, with such wages rising 8.6% in the private sector and 6% in the public sector.

The average net wage in Hungary was HUF 120,200 in January-October, with an average blue-collar wage of HUF 89,700 and average white-collar wage of HUF 154,200.

Net wages increased an average of 7.2% during the period, 8% in the private sector and 6% in the public sector.

The average monthly income in Hungary rose 8.5% yr/yr to HUF 206,400 in January-October. (MTI – Econews)