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Hungary: Minimum wage changes favor skilled labor

The mandatory minimum wage was raised to Ft 69,000 (€272.3 or $400.9) from last year’s Ft 65,500 (€258.4 or $380.6).

The minimum wage for jobs requiring skilled labor shall be multiplied by 1.2 or 1.25 for workers with at least 2 years of professional experience. An agreement with the National Interest Reconciliation Council (OÉT) set the minimum wage for skilled labor for a 3 year term at 1.1 or 1.15 times the minimum wage. The agreement also defined the multiplier for jobs requiring college education for 2006, 2007 and 2008 at 1.4, 1.5 and 1.6, respectively. Jobseeker benefit in 2008 may be as high as Ft 83,000 compared to the Ft 44,600 in 2005. Those not able to find a job during the term of the benefit may apply for a 3-month aid, but this is only 40% of the minimum wage. (Gazdasági Rádió)