As of November last year, gross earnings stood at HUF 403,500, 13.9 percent higher than a year earlier, according to the Central Statistical Office (CSO). Net earnings, excluding benefits, increased 14.0 percent year-over-year. The average net income without allowances amounted to HUF 268,300, while including allowances, it stood at HUF 275,900.
Real wages were up 10.5 percent year-over-year, with November inflation standing at 3.4 percent. Excluding public employment, gross average earnings increased 12.1 percent to HUF 411,000 at enterprises with five or more employees. Furthermore, the number of public employees fell by 16,000 to 99,000 in November last year.
Average wages were 13.8 percent higher in manufacturing, rising to HUF 444,000, and 13.2 percent higher in construction, hitting HUF 302,000. In the financial and insurance sector, the average salary in November was HUF 641,000, showing an annual increase of only 0.2 per cent.
In the public sector, earnings increased by 28.4 percent in public administration and defense, as well as those working in compulsory social insurance, surpassing the average of HUF 563,000. Gross wages increased by 7.6 percent in education to HUF 366,000 and by 11.8 percent in healthcare to HUF 377,000.
In the first eleven months of 2019, excluding the public sector, average monthly gross earnings were HUF 374,500, 10.4 percent higher than in the same period of the previous year, corresponding to a 6.9 percent increase in real earnings with inflation at 3.3 percent.