Statistical Office Reports Surging Salaries in May

In May this year, the average gross earnings of full-time employees were HUF 652,000 (EUR 1,657), with average net earnings, after accounting for deductions, reaching HUF 448,700 (EUR 1,140).

According to the Hungarian Central Statistical Office (KSH), average gross earnings increased by 14.8 percent, average net earnings by 14.6 percent, and real earnings by 10.4 percent compared to the same month last year.

The median gross earnings were HUF 525,100 (EUR 1,334), and the median net earnings were HUF 363,900 (EUR 925), marking increases of 16.9 percent and 17.2 percent, respectively, from the previous year.

For May, the average gross regular earnings (excluding bonuses and one-time special allowances) were HUF 607,800 (EUR 1,545), up 15.1 percent from the same period last year. Within this category, the average regular gross salary was HUF 609,100 (EUR 1,548) in the business sector, HUF 592,900 (EUR 1507)  in the budget sector, and HUF 636,200 (EUR 1,617) in the non-profit sector, reflecting increases of 14.1 percent, 17.5 percent, and 19.3 percent, respectively.

The report also indicated that average net earnings excluding deductions reached HUF 433,600 (EUR 1102), a 14.8 percent increase from May of the previous year.

Real earnings rose by 10.4 percent, with consumer prices up by 4.0 percent year-on-year.

For the period from January to May, the average gross earnings of full-time employees were HUF 633,300 (EUR 1,609). Average net earnings were HUF 421,100 (EUR 1,070) without deductions and HUF 435,800 (EUR 1,107) including deductions. Compared to the same period last year, gross and net average earnings excluding deductions both increased by 14.2 percent, while net earnings including deductions grew by 14.0 percent.

Via MTI; Featured Image: Pixabay