Hungary’s average statutory monthly pay has the 4th biggest increase in the world

New research has revealed Hungary’s average statutory monthly pay has increased by 9.03 per cent since 1998, the 4th biggest increase in the world.

The study, from job-search experts Lensa, analyzed the average statutory monthly pay in each OECD country from 1998 to 2021 to determine the locations which have seen the greatest increase in pay.

The countries with the biggest increase in monthly pay:

The research also revealed that Canada is the country with the largest difference in work-hour limits. The legal statutory hour’s people are allowed to work changed from 48 to 40 hours between 1996 and 2020. Italy, like Canada, has reduced the number of working hours from 48 to 40, while France is third on this list.

Latvia is the country with the best GDP per hour worked, with a 4.63 per cent increase from 1995 to 2021 indicating steady growth of the Latvian economy and efficiency of workers. Hungary ranks ninth in this respect with 2.88 percent.

Luxembourg is the country with the biggest change in hours worked, dropping by 0.70 per cent. While the statutory maximum work hours is 40 in Luxembourg, data show that as of 2021, people in Luxembourg work on average around 29 hours per week.

You can view the full research here.

Source: Press Release