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Twelve-month gross wage growth slows to 1.1% in June

Twelve-month gross wage growth in Hungary was 1.1% in June, slowing from 2.9% in May, the Central Statistical Office (KSH) said.

Average twelve-month net wage growth slowed to 0.9% in June from 2.1% in May.

Real wages dropped 2.7%, calculating with twelve-month CPI of 3.7% in June. Real wages fell 1.8% in May.

In January-June, gross wages rose 1.3% from the same period a year earlier. Net wages were up 1%.

Gross wages in the business sector inched up 0.4%, while gross wages in the public sector dropped a sharp 8.4%, mainly because of changes to the payment of annual bonuses in the sector.

Real wages fell 2.2% in January-June from the same period a year earlier, calculating with 3.3% consumer price inflation.

Regular wages -- wages excluding premiums and bonuses -- rose 4.2% in January-June. Regular wages in the business sector climbed 5.6% and regular wages in the public sector inched up 0.9%.

Full-time employees earned an average gross monthly HUF 198,200 in January-June. Employees in the business sector earned HUF 197,000 and employees in the public sector earned HUF 204,100.

The average number of employees was 2,667,000 in January-June. There were 1,848,000 employees in the business sector and 731,000 in the public sector. The number of employees in the business sector fell 6.2% from the same period a year earlier, while the number in the public sector rose 1.1%. (MTI – Econews)