Average wages in Hungary rose by more than 10 percent year-on-year in May, it has been revealed.
Based on the latest figures released by Hungary’s Central Statistics Office (KSH), the highest increases are attributed to the state during that period. In several areas, the increase is at least 15 percent. What's more, salaries increased in spite of the rising number of employees.
In the healthcare sector, gross average monthly wages increased from 270 to 323 thousand HUF in just one year. This 19.4 percent rise is unprecedented in the health system.
Apart from the rise of the minimum wage and the guaranteed wage minimum, all workers experienced a 10 percent increase on average. Nevertheless, the numbers vary by sector.
There was an increase by an average of 35 thousand HUF in public administration. Social sector workers also experienced a notable rise, although their salary is still under the national average.
In the private sector, both labor unions and employers considered the lack of skilled professionals as the greatest challenge. It also resulted in competition between employers.
As a result of wage negotiations, KSH measured a 10-14 percent increase in different areas of the private sector. Stakeholders also attribute this to the successful employee retention.
In the private sector, wages increased the most, by 55 thousand HUF, in the information and communication sector, where the average monthly salary reached 515 thousand HUF. This is equal to the average wage of financial and insurance jobs, which are the most profitable sectors currently.
The average wage is also above 400 thousand HUF in the scientific and technical fields, as well as in the energy sector.
The greatest increases in the private sector have been observed in sectors with labor shortages; e.g. tourism and the building industry, by more than 10 percent.