Real earnings up 7.5% in Jan-Nov 2016

Tourism

Along with a 0.3% rise in consumer prices, real earnings increased by 7.5% in the January-November period of 2016, as compared to the corresponding period a year earlier, according to a first reading of data issued today by the Central Statistical Office (KSH).

Regular gross earnings — without premiums and one-month bonuses — increased by 0.1 percentage point less than average gross earnings. Along with the 6.2% increase in gross earnings, net earnings grew by 7.8% due to changes in personal income tax rules, according to the KSH.

Wages and salaries according to the SNA concept were 6.1% higher than a year earlier. Full-time employees’ average gross nominal earnings according to the national concept amounted to HUF 260,800 at corporations employing at least five persons, budgetary and designated non-profit institutions, according to the KSH. Average net earnings in the January-November period – excluding family tax benefits – were HUF 173,500 by the national concept, the KSH added.

Monthly average gross wages and salaries according to the SNA concept amounted to HUF 274,400, while the share of other wages and salaries was 4.9% on average, KSH data show.

ADVERTISEMENT

European e-commerce soars during pandemic - study Analysis

European e-commerce soars during pandemic - study

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

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.