Fastest wage growth recorded in Hungary


From the thirty OECD countries, Hungary recorded the fastest growth in gross wages in processing industries since 2000, OECD statistical data show.

Until last August the growth recorded in this field in Hungary was 96.3%. The best month was April, when the average hourly wage was 98.4% higher than in 2000. Wages include seasonal adjustments, overtime bonuses and regular wage compensations. Cumulative inflation in February 2008 stood at 56.1% according to data from the Central Statistics Office (KSH). The average rise in OECD countries was 23.2%, cumulative inflation 19.8%, so real growth was 3.4%. Second in the line was South Korea with 78.6%. In Poland wage growth was 41.8%, in the Czech Republic 56.8%, Slovakia 68.6%, Austria 21.2%. In the bottom ranks of the list are the G7 countries, where average growth was only 16.9%. The US recorded a humble growth of 21.2%. The slowest rise was seen by Japan with 1.7%, while the second worst performer is Portugal with a mere 2% growth. (NG 2, Gazdasági Rádió)


Business confidence falls slightly in June Analysis

Business confidence falls slightly in June

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors


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.