Average gross wage climbs again in Hungary significantly
The average gross wage in Hungary rose 12.9pc year-on-year to HUF 637,200 in October, data released by the Central Statistics Office (KSH) on Friday show. #ksh #averagewage #money #income
The average gross wage in Hungary rose 12.9pc year-on-year to HUF 637,200 in October, data released by the Central Statistics Office (KSH) on Friday show.
Net wages climbed at the same pace to HUF 423,800. Real wages rose 9.4pc, calculating with October CPI of 3.2pc. The gross median wage increased 15.9pc to HUF 529,000. Hungary’s statutory monthly minimum wage was raised by 15pc to HUF 266,800 for unskilled labourers and by 10pc to HUF 326,000 for skilled workers from December 1, 2023.
Excluding Hungarians working full time in fostered work programmes — who earned on average gross HUF 131,600 in October — the average gross monthly wage was HUF 647,400.
The average gross wage in the business sector, which includes state-owned companies, rose 12.0pc to HUF 642,100. The average gross wage in the public sector climbed 15.8pc to HUF 616,900. In the non-profit sector, the average gross wage increased 14.7pc to HUF 646,700.
For the period January-October, gross wages averaged HUF 633,900 and net wages came to HUF 421,500, both up 13.6pc from the same period a year earlier.
As a result of favourable wage dynamics and persistently low inflation, real wages have been increasing continuously and significantly for 14 months, Sándor Czomba, the state secretary for employment policy, said in a statement.
Thanks to the government’s measures, the purchasing power of family’s incomes is steadily increasing, which boosts consumption, and contributes to the Hungarian economy achieving growth above 3pc in 2025.
Read also:
- Hungary’s income decline: 8 in 10 citizens fall behind European peers -read more HERE
- Dynamic wage growth expected in coming years in Hungary, Orbán cabinet believes
Related
Share this page
Guest Posts by Easy Branches
