Wages In Real Terms Increase By More Than 4 Percent In April

According to the flash report by the Hungarian Central Statistical Office (KSH), wages in real terms continue to increase dynamically. In April 2014, wages in real terms were up significantly, by 4.2 percent year-on-year. This result is also contributable to certain Government measures, such as the cutting of utility prices, public sector wage hike, the Job Protection Action Plan as well as measures aimed at stimulating labour market activity.

In April 2014, gross and net average wages were HUF 239 700 and HUF 157 000, respectively, within the national economy. The 4.1 percent increase of gross wages is signalling the acceleration of growth since the beginning of the year. Wages gained 4.6 percent in the private sector and 12.8 percent in the public sector, which figures exclude the effect of public work schemes.

In January-April 2014, the gross average wage of full-time employees was HUF 232 300 or HUF 245 800 excluding public work employees. In this period, private and public sector employees earned on average HUF 251 100 and HUF 234 400, respectively, excluding public work employees.

The number of employees grew significantly, posting the highest increase since the end of 2010, within the private sector at enterprises with more than 5 employees. Thus, the number of private sector employees increased by more than 55 thousand year-on-year.

Steady real wage growth is improving living conditions. Thanks to the Government’s economy policy, economic growth has been bolstering the finances of families.

For detailed data please visit www.ksh.hu.

Ministry for National Economy

Photo: www.vecseshirek.hu

Source: http://kormany.hu/