What is Minimum Wage in Hungary Compared to Euro Countries?
- 8 Aug 2024 9:32 AM
- Hungary Matters
Hungary’s effective minimum wage is midfield in European Union comparison, the national economy ministry said in a statement. The ministry said certain media outlets had repeatedly distorted Eurostat figures, claiming that Hungary was one rung from bottom on the EU minimum wage list.
“Lacking a proper interpretation and without presenting the full picture, they have presented unprofessional and greatly distorted comparisons,” the ministry said.
Contrary to such reports, it is the effective minimum wage that shows the real picture, being the weighted average of the basic minimum wage and the minimum wage for skilled workers, the ministry said, noting that Hungary is the only European country where a two-tier system is in effect.
Unlike Hungary, other European countries do not have a minimum wage for skilled workers, so any comparisons made should be based on applying a proper methodology, it said.
In addition to the minimum wage, the minimum wage for skilled workers must also be taken into consideration, especially since twice as many people receive the latter than the former, it added.
The minimum wage in Hungary has increased more than 3.6 fold compared with 2010, to monthly 266,800 forints (EUR 670), and the minimum wage for skilled workers is 326,000 forints, which means the effective minimum wage is 306,000 forints (EUR 770), it said.
The average minimum wage in the EU is 482,000 forints (EUR 1,210), which puts Hungary’s in 17th place, the ministry said. In regional comparison, Hungary is in the top group, ahead of Czechia, Slovakia, Romania and Bulgaria, it added.
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