Average gross wage in Hungary has risen again

The gross average wage in Hungary amounted to 621,200 forints (EUR 1,622) in November, increasing by an annual 14.1 percent, while net pay came to 413,100 forints, the Central Statistical Office (KSH) said on Tuesday.

Net wages were up by 14.0 percent year on year, while real wages, calculated with a November inflation rate of 7.9 percent, rose by an annual 5.7 percent.

Taking supplementary payments into account, the average net salary was 427,700 forints.

The gross median wage rose by 16.0 percent to 489,400 forints.

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Sándor Czomba, the state secretary for employment policy, said the government’s successful measures to push down inflation had resulted in renewed growth in real wages from September.

As well as encouraging future wage rises, the government also wants to boost the activity rate of people aged 15-64 from 78 percent to 85 percent as part of a new labour market scheme aimed at stimulating economic growth, with a target of 4 percent, he said in a statement.

The state secretary also noted that from Dec 1 last year, the basic minimum wage grew by 15 percent and the one for skilled employees by 10 percent.

Source: MTI