Gross wages rise 5.9 pc in February

Budapest, April 20 (MTI) – The average gross wage in Hungary was 248,262 forints (EUR 801.37) in February, up 5.9 percent from the same month a year earlier, the Central Statistical Office (KSH) said on Wednesday.

Net wage growth outpaced the increase, rising by 7.5 percent to 165,849 forints, because of a one percentage point cut in the personal income tax rate from January.

Calculating with twelve-month inflation of 0.3 percent, real wages rose by 7.2 percent in February.

KSH noted that wages are boosted this year by a 5.7 percent increase in the gross minimum wage, a wage rise for the Armed Forces and a wage supplement paid to social sector employees.

Excluding the 193,600 Hungarians in fostered work programmes, the average gross wage rose by 6.6 percent to 261,455 forints, while net wages increased by 8.2 percent to 173,868 forints.

Full-time fostered workers earned gross 79,059 forints on average during the month, 0.7 percent more than in the same period a year earlier.

Excluding fostered workers, business sector gross wages were up by 5.2 percent in February, including a 5.6 percent rise in regular wages.

Without fostered workers, public sector gross wages rose by 10.2 percent.

January-February gross wages rose by 5.9 percent including fostered workers and were up by 6.4 percent excluding them. Net wages were up by 7.5 percent and 8.1 percent, respectively. Real wages were up by 6.9 percent as consumer prices rose by 0.6 percent.

Excluding fostered workers, business sector gross wages were up by an annual 5.2 percent in January-February, while gross wages in the public sector rose by 10.0 percent. Fostered workers’ wages edged down by 0.2 percent in the period.

Including fostered workers, about 2,954,000 people were employed in Hungary in February, 3.5 percent more than a year earlier. Excluding fostered workers, the number rose by 2.8 percent to 2,760,500.