EconomyFinance

Stats Office: Average Monthly Net Wage In Hungary Continues To Grow To €550

The positive wage growth trend in Hungary has continued for the 43rd consecutive months, a fresh report by the Hungarian Central Statistical Office (KSH) shows.

In the initial seven months of 2016, wages in real terms were significantly higher year-on-year, having gained 7.4 percent. Within the private sector — at enterprises with at least five employees — the number of people in employment rose by 65 thousand since July 2015.

ksh

In the initial seven months of 2016, gross and net wages (excluding family tax allowances) averaged HUF 257 900 (approx. EUR 833) and HUF 171 500 (approx. EUR 550), respectively, within the national economy. Taking into account family tax allowances, KSH estimates that net wages averaged HUF 178 600 in the observed period.

Excluding the effect of public work schemes, in the period January-July 2016 the average gross wage was HUF 274 800 in the private sector, HUF 269 100 in the public sector and HUF 247 200 in the non-profit sector, which corresponds to increases of 6.7 percent, 11.6 percent and 6.9 percent, respectively.

via ksh.hu and kormany.hu