Average Hungarian Earnings Reach HUF 377,300

  • 4 May 2020 8:32 AM
  • Budapest Business Journal
Average Hungarian Earnings Reach HUF 377,300
Average gross earnings amounted to HUF 377,300 in February 2020, 9.1% higher than a year earlier, according to data by the Central Statistical Office (KSH) says.

Full-time employees’ average gross nominal earnings came to HUF 387,300 excluding fostered workers.

Average net earnings were HUF 250,900 excluding tax benefits and HUF 259,400 including them.

KSH says that both average gross earnings and average net earnings excluding tax benefits grew by 9.1%, while average net earnings including tax benefits rose by 9.3% compared to the same period of 2019.


January-February average gross earnings at HUF 376,300
 

In the first two months of the year, average gross earnings came to HUF 376,300 (HUF 386,300 excluding fostered workers). 

Average net earnings amounted to HUF 250,200 (HUF 258,200 with tax benefits). Both average gross earnings and average net earnings rose by 9.2% compared to the same period of the previous year.

Average gross earnings were the highest in information and communication (HUF 664,800) and the lowest (HUF 253,400) in accommodation and food service activities.

Average gross earnings amounted to HUF 410,500 for men and to HUF 342,600 for women, representing increases of 8.9% and 9.4%, respectively, over one year.

Average gross earnings of full-time employees under the age of 25 reached HUF 280,000 in January-February 2020.

Those between 25-54 years of had an average gross salary of HUF 391,700, while those over 54 years old had an average gross earning of HUF 362,400.

The year-on-year growth of earnings in the age groups was 5.3%, 9.3% and 7.8% respectively.

Average gross regular earnings (gross earnings without premiums and one-month bonuses) were estimated at HUF 357,500, 10% higher than a year earlier.

Along with the 4.5% rise in consumer prices compared to the same period of the previous year, real earnings increased by 4.5%.

KSH notes that the economic effects of the coronavirus epidemic have not yet affected the period under review.

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Hungary's largest and oldest source of business and financial news in English. Since 1992 it has presented essential information on Hungarian business life, including international analyses about the country. These days the BBJ newspaper is published every other week, while it releases daily business news online including premium paid content.

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