The must-have newsletter about Hungary

HUNGARY GROSS WAGES UP 14.6% YR/YR IN JAN

 

The gross average wage of full-time employees in Hungary amounted to 605,100 forints (EUR 1,532) in January, increasing by an annual 14.6%, while net pay including supplementary payments came to 416,600 forints, the Central Statistical Office (KSH) said on Thursday. Net wages were up by 14.5% year on year, while real wages rose by an annual 10.4%.
Real wages rose by 10.4%, calculating with January CPI of 3.8%. The gross median wage increased by 16.9% to 493,700 forints.
Hungary’s statutory monthly minimum wage was raised by 15% for unskilled labourers and by 10% for skilled workers from December 1. Excluding the 65,600 Hungarians working full time in fostered work programmes, the average gross monthly wage was 615,100 forints. Commenting on the data, national economy ministry said the real wage increase was thanks to government measures pushing inflation back to 5.5% by the end of 2023 and 3.8% in January. Since a turnaround last September, real wages have been growing constantly and increasingly swiftly, the ministry said. Meanwhile, the number of jobholders has grown by 1 million compared with 2010, and the number of registered jobseekers is at a historic low, the statement added.