Gross earnings up 11.8% year-on-year
Photo by Pixabay
In September 2019, average gross earnings in Hungary amounted to HUF 360,700, 11.8% higher than a year earlier, according to a report by the Central Statistical Office (KSH).
In January–September 2019, average gross earnings amounted to HUF 359,900 and average net earnings to HUF 239,300; both of them grew by 10.8% compared to the same period of 2018.
Full-time employees’ (defined by KSH as people working full time at corporations employing at least five people, budgetary institutions, and non-profit organizations which are significant in respect of employment) average gross nominal earnings amounted to HUF 360,700. Excluding fostered workers, the figure grows to HUF 368,300.
Average net earnings were HUF 239,900 excluding tax benefits and HUF 247,300 including them.
Both average gross earnings and average net earnings excluding tax benefits grew by 11.8%, while average net earnings including tax benefits rose by 11.9% compared to the same period of the previous year.
In the first nine months of 2019, full-time employees’ average gross nominal earnings amounted to HUF 359,900 and to HUF 369,900 excluding fostered workers.
Average net earnings were HUF 239,300 excluding tax benefits, and HUF 246,700 including them.
Both average gross earnings and average net earnings excluding tax benefits grew by 10.8%, while average net earnings including tax benefits rose by 10.9% compared to the same period of the previous year.
KSH says that average gross earnings were the highest in financial and insurance activities (HUF 657,100) and the lowest (HUF 236,500) in accommodation and food service activities.
Full-time employees’ average gross earnings amounted to HUF 393,600 for men and to HUF 327,700 for women, representing increases of 11.5% and 10%, respectively over one year.
Average gross earnings of full-time employees under the age of 25 reached HUF 277,400. The average for people between 25-54 years of age amounted to HUF 375,200, while those over 54 took home HUF 354,200 on average. The year-on-year growth of earnings in these age groups was 16.6%, 11.1%, and 10.6% respectively.
Average gross regular earnings (gross earnings without premiums and one-month bonuses) came tot HUF 337,200, 10.6% higher than a year earlier.
Along with the 3.3% rise in consumer prices compared to the same period of the previous year, real earnings increased by 7.3%, KSH says.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.