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Wages in Hungary grew by an annual 7.9 percent in July from 3.5 percent in the previous month, the Central Statistical Office (KSH) reported.
The average gross earnings of full-time employees in July 2021- at enterprises with at least 5 employees, budgetary institutions, and non-profit organizations significant for employment- were HUF 433,700 (EUR 1,205), and HUF 444,300 (EUR 1,234) excluding public employees, according to the Hungarian Central Statistical Office.
Average gross and net average earnings excluding discounts both increased by 7.9%. Net earnings including discounts were 7.7% higher than in the same period last year. Gross earnings increased by 6.2% in the business sector and by a significantly higher 11.8% in the public sector, Telex reports. This is mainly due to scheduled wage increases: the medical wage increase and pay increases for judges, prosecutors, and nursery workers, according to the KSH.
The average net salary was HUF 288,400 (EUR 801) without discounts, and HUF 297,100 (EUR 826) including discounts. Average gross earnings were highest in financial and insurance activities (HUF 756,000/ EUR 2,100) and lowest in accommodation and food service activities (HUF 258,000/ EUR 717).
Men were already earning more than women, but the gap has widened to 20%. Average gross earnings for men and women in full-time employment were 467,700, and 392,200 forints (EUR 1,300 and 1,090) respectively, an increase of 8.8% and 8.0% over a year.
Calculating with annual inflation of 4.6 percent in July, real wages increased by 3.2%. The median value of gross earnings was HUF 350,000 (EUR 973), up 7.5% from a year earlier.
Featured image: illustration via Attila Balázs/MTI
