Hungary avarage net wage climbs in October: 731 euros

The average gross wage for full-time workers in Hungary rose by 11.6 percent year on year to 365,135 forints (EUR 1,100) in October, the Central Statistical Office (KSH) said on Monday.

Net wages grew at the same pace, reaching a 242,815 forints (731 euros) monthly average.

Calculating with twelve-month CPI of 2.9 percent in October, real wages were up 8.5 percent.

Excluding the 99,200 Hungarians in fostered work programmes, the average gross wage rose by 11.2 percent to 375,314 forints, while net wages grew at the same rate to 249,584 forints.

Full-time fostered workers earned gross 81,376 forints (EUR 245) in October, 0.4 percent less than a year earlier.

Men employed full-time earned gross 394,100 forints a month on average in the January-October period, while women earned 328,500 forints. Wages rose by 11.5 percent and 10.1 percent, respectively, on an annual basis.

• Hungary’s minimum wage to rise 8 pc next year: 486 euros
• Jobseekers to travel for free on Budapest public transport

In January-October average gross monthly wage was highest in the finance and insurance sector, at 657,500 forints, and lowest in accommodation and catering services, at 236,800 forints.

Source: MTI