Are you sure?

Real wages up 5.4% yr/yr in H1

Real wages rose 5.4% year-on-year in January-June 2006, based on an 8.1% increase in net monthly wages and an average CPI of 2.6% during the period, the Central Statistics Office (KSH) announced today. Gross monthly wages rose 6.4% to Ft 165,705 (€610) in the twelve months to June, and net wages rose 7.4% to Ft 109,281 during the same period. In the H1 of 2006, gross monthly wages rose 7.2% year-on-year to Ft 168,205 and net monthly wages were up 8.1% at Ft 110,675. Total work income, including extra-wage benefits and in-kind contributions, rose 7.4% to Ft 177,100. Extra-wage benefits and in-kind contributions accounted for 5.0% of total work income on average during the period. In June, gross monthly wages in the private sector rose 6.5% year-on-year to Ft 157,576.

Net wages were up 7.4% at Ft 105,399. January-June gross monthly wages averaged Ft 155,120 in the private sector, up 7.8% year-on-year and net private sector wages rose 8.6% in the period to Ft 105,399 a month. Gross monthly wages in the public sector increased 6.4% in the twelve months to June to Ft 185,166, while net wages rose 7.2% to Ft 118,505. In January-June, gross public sector wages averaged Ft 200,705 a month, up 6.5% in one year, and net wages in the sector averaged Ft 126,339, up 7.5% (the six month’s average, in this sector, includes the one month extra payment as well which is paid in January).

Gross monthly wages of blue-collar workers rose 8.6% year-on-year to Ft 110,260 in June, while gross monthly wages of white collar workers were up 5.0% at Ft 230,003. January-June gross monthly blue-collar wages averaged Ft 108,289, up 7.9% in one year, and gross white-collar wages averaged Ft 236,669, up 6.6%. The number of employees at companies with a staff of more than five and central budget-funded institutions averaged 2,810 million in June, 0.3% more than in the same month a year earlier. The number of employees in the private sector grew 0.7% to 1,936 million and the number of public sector employees fell a marked 2.1% to 802,900. (Econews,