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
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2 Comments
Wow! Growth! Wages up! 14 percent! 16 percent!
https://tradingeconomics.com/hungary/inflation-cpi
Oh wait – “in December, after a flat reading in November. In 2023, the average inflation rate stood at 17.6%”.
So – another lost year of real wage decline,
Losing one third of your wage to payroll taxes on that low amount is huge. Fidesz is mismanaging the economy and bleeding ordinary Hungarians dry. On top of paying out 33% of your wage to payroll taxes you pay a whopping 27% VAT tax on most goods. Put that together and the government is taking 60% of your money and where does it go? It goes into the pockets of corrupt Fidesz politicians and their friends.