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Facts & Statistics

In January, average gross earnings hit HUF 411,000

Both gross and net average earnings are 9.5 percent higher than a year earlier.

In January, the average gross earnings of full-time employees were HUF 411,000, and the average net earnings excluding benefits were HUF 273,300. Both were 9.5 percent higher than a year earlier.

Gross earnings among enterprises increased by 8.5 percent. The scheduled salary increase of certain professions, including doctors, judges, prosecutors, and nursery workers, was 13.3 percent, the Central Statistical Office reported.

Real wages rose 6.6 percent, with consumer prices rising 2.7 percent year-over-year.

The average gross earnings were the highest in the financial and insurance sectors (HUF 714,900) and the lowest in the accommodation and food service sectors (HUF 247,500).

The high rise in earnings in January is definitely a positive surprise. According to the data, the increase in salaries was smaller in the private sector and higher in the public sector. In the case of the latter, increases for some key groups, such doctors, played an important role, Gábor Regős, the head of the macroeconomic division at Századvég Economic Research Institute said. He indicated that the average rate of wage increases varied greatly in each sector. 

Rising wages after the lifting of restrictions could help the economy return to growth through an expansion in consumption, he added.

Source
www.magyarnemzet.hu
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