KSH: Hungary’s labor reserve stood at 314,000 in Q2
The data, for Hungarians between the ages of 15 and 74, show there were 4,745,100 employed and 215,300 jobless during the quarter.
The data, for Hungarians between the ages of 15 and 74, show there were 4,745,100 employed and 215,300 jobless during the quarter.
During the period of January-June, the volume of retail trade went up by 2.7%, KSH said.
KSH said GDP was boosted the most by the construction sector and real estate transactions, as well as by the balance of product taxes and subsidies.
Output in building construction was up 11.2%, other construction was up 1.1%.
Quarter on quarter, GDP was up by 0.8%, adjusted for seasonal and calendar year effects.
The government’s successful measures to rein in inflation along with the 15% increase in the basic minimum wage and the 10% hike in the minimum wage for skilled workers had resulted in renewed growth in real wages.
The average gross wage in Hungary rose by an annual 14% to 605,400 forints (EUR 1,540) in February.
Net wages were up by 14.5% year on year, while real wages rose by an annual 10.4%.
The national economy ministry said it indicated that retail sales had passed the low point and were “in the recovery phase”.
Net wages were up by 14.0% year on year, while real wages, calculated with a November inflation rate of 7.9%, rose by an annual 5.7%.
Government sector revenue rose by 12.7% to 7,661 billion forints, while expenditures climbed 7.7% to 8,362 billion.
The growth was driven by the leading sectors in Hungary, such as vehicle manufacturing and the manufacturing computer, electronics and optical products.
The average gross wage in Hungary climbed by an annual 15.4 percent to HUF 503,500 (EUR 1,216) in June.