According to the latest report of the Central Statistical Office (CSO), the gross average earnings in 2020 reached HUF 403,600, and net average earnings were HUF 268,400, both of which increased by 9.7 percent compared to the same period in 2019.
Real wages rose 6.2 percent, with consumer prices rising 3.3 percent year-over-year, the CSO said on Thursday.
Real earnings in December were 7.7 percent higher than a year earlier, with inflation at 2.7 percent. Average earnings increased by an average of HUF 66,100 by non-regular earnings. The regular average gross earnings calculated without bonuses, benefits and special monthly bonuses are estimated at HUF 383,300, which is 10.3 percent higher than a year earlier. The average net earnings in December amounted to HUF 298,900 without benefits and HUF 308,000 including benefits.
The average gross earnings of enterprises amounted to HUF 472,900, excluding public employees, an increase of 11.9 percent on the previous year. The number of employees was 71,000, down 3.2 percent. In the public sector, the increase in earnings excluding public employees was 6.5 percent and amounted to HUF 425,800 gross, while the number of employees increased by 0.2 percent.
Sándor Bodó, State Secretary for Employment at the Ministry of Innovation and Technology, added that wages are expected to increase more moderately due to the effects of the coronavirus epidemic in the next period. According to the secretary, this process is also evidenced by minimum wage negotiations, which dragged on into this year. As a result, the gross value of the minimum wage increased to HUF 167,400 and the gross amount of the guaranteed minimum wage to HUF 219,000 this year, he added.
Compared to the data from 2010, we can see that the government has increased the minimum wage by 128 percent and the guaranteed minimum wage by 145 percent in the past decade.