New Agreement Signed on Minimum Wage in Hungary
- 21 Nov 2023 7:33 AM
- Hungary Around the Clock
Employers, unions and the government signed a minimum wage agreement on Monday, which will come into force on December 1, the Economic Development Ministry announced.
The trade union federation Maszsz was the only significant union alliance not to sign the agreement sealed last week.
The signatories agreed that the monthly minimum wage for unskilled workers will rise by 15% to Ft 266,800, or Ft 177,400 net, while the minimum wage for skilled workers will rise by 10% to Ft 326,000, or a net Ft 216,800.
The agreement includes recommendations for companies to raise pay to ensure real wage growth and to start talks on renewing the minimum wage system.
The document states that parties are committed to encouraging collective bargaining contracts.
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