Median wage shockingly low, half of the Hungarians get less than EUR 875/month net

The average gross wage in Hungary rose 12.5pc year-on-year to HUF 627,400 in September, data released by the Central Statistics Office (KSH) on Friday show. However, the median wage is still very low compared to other Central European countries since it barely reaches EUR 873.

Net wages climbed at the same pace to HUF 417,200.

Real wages rose 9.2pc, calculating with September CPI of 3.0pc.

The gross median wage increased 15.5pc to HUF 519,500. That is HUF 359,100 net, which is currently EUR 873. Half of the Hungarians received less money than that after working for a month.

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Hungary’s statutory monthly minimum wage was raised by 15pc to HUF 266,800 for unskilled labourers and by 10pc to HUF 326,000 for skilled workers from December 1.

Excluding Hungarians working full time in fostered work programmes — who earned on average gross HUF 132,300 in September — the average gross monthly wage was HUF 637,300.

The average gross wage in the business sector, which includes state-owned companies, rose 11.9pc to HUF 630,700. The average gross wage in the public sector climbed 14.1pc to HUF 612,100. In the non-profit sector, the average gross wage increased 14.0pc to HUF 638,600.

For the period January-September, gross wages averaged HUF 633,500 and net wages came to HUF 421,300, both up 13.7pc from the same period a year earlier.

Hungarian economy struggling

Investment volume in Hungary declined 15.4pc year-on-year in the third quarter, data released by the Central Statistics Office (KSH) on Friday show.

Adjusted for seasonal effects, investment volume fell 14.9pc.

Hungary’s economy is struggling. Economy development minister Márton Nagy believes the reason is the struggling of the German economy. Therefore, we should “forget about the Germans” and the economic growth in Hungary in 2025 will be above 3%. Photo: MTI

Investment volume in the manufacturing, logistics and education sectors contributed the most to the headline decline, KSH said. The fall was mitigated by rising investment volume in the real estate and energy sectors, it added.

In a quarter-on-quarter comparison, investment volume edged down a seasonally-adjusted 2.5pc.

Read also:

• Official: Minimum wage in Hungary to rise in 2025 – read more HERE
• Forint in free fall, historic lows against the American dollar, GBP, CHF, PLN! – details in THIS article

Featured image: depositphotos.com