Hungary's average wage increases by 31.7% in one year
The average gross wage of full-time employees in February was HUF 546,000 (EUR 1,470).
The average gross wage of full-time employees in February was HUF 546,000 (EUR 1,470).
Businesses with at least five people on the payroll show the average gross monthly wage for full-time employees is HUF 492,800 (EUR 1,377).
The rate of annual wage growth in Hungary picked up to 10.1 percent in November from 8.5 percent in the previous month.
Currently Hungary has 4.7 million employed against 240,000 registered job-seekers.
The gross monthly wage for full-time employees averaged HUF 428,100 (EUR 1,165).
Wage growth in Hungary quickened to an annual 8.9 percent in August from 7.9 percent in the previous month.
Data for businesses and institutions with at least five people on the payroll show the average monthly wage before tax for full-time employees stood at HUF 433,700 (EUR 1,200).
The agreement struck by unions, employers and government representatives contains a further hike from the middle of the year.
Compared with ten years ago, gross earnings increased by 97 percent in Jan-Oct 2020, while net earnings without benefits have grown by 99.7 percent.
The Hungarian government and the Hungarian Chamber of Doctors (MOK) have agreed to raise doctors’ wages by an “unprecedented” rate, and to “phase out” gratuity payments.
The Central Statistical Office (KSH) revealed the average gross monthly wage came to HUF 375,200 (EUR 1,050) in January. Net wages also grew by 9.2 percent, to HUF 249,500.
The average gross wage for full-time workers in Hungary grew by an annual 13.1 percent to a monthly HUF 406,388 (EUR 1,200) in December 2019.
During his year-opening press conference on Thursday, the prime minister called it a “fantastic achievement” that the number of jobholders had exceeded 4.5 million “for the first time in thirty years”.