Average gross earnings increase 16 percent yr-on-yr

Full-time employees’ average gross earnings amounted to HUF 566,800, having risen by 16.0% compared with a year earlier.

Estimated average gross regular earnings (gross earnings without premiums and one-month bonuses) were HUF 525,300, being 14.9% higher than a year earlier. Regular average gross earnings reached HUF 531,000 in the business sector, HUF 503,200 in the budgetary sector, and HUF 532,100 in the non-profit sector, representing growths of 15.9%, 12.8% and 10.7%, respectively, compared to the previous year.

Average net earnings were HUF 376,900 excluding tax benefits and HUF 390,900 including them, being 16.0% and 15.9% higher than in June 2022.

Real earnings fell by 3.4%, along with an outstanding 20.1% increase in consumer prices compared to the same period of the previous year.

Median gross earnings reached HUF 450,000, surpassing the previous year’s value by 15.6%.

Median net earnings including tax benefits were HUF 312,000, surpassing the value for the same period of the previous year by 15.6%.

In January-June 2023 full-time employees’ average gross earnings amounted to HUF 556,700.

Average net earnings were HUF 370,200, excluding tax benefits and HUF 383,800, including tax benefits.

Average gross earnings, average net earnings excluding tax benefits and net earnings including tax benefits rose by 13.6% compared to the same period of the previous year. The change in average earnings was affected by the last year’s February payment of the “service premium” (the so-called “firearms money”) for the army and the law enforcement personnel corresponding to six-month salary. Without this effect the rise of the average gross earnings and the average net earnings including tax benefits would be higher by 2.7 percentage points.

Full-time employees’ average gross earnings at enterprises employing at least 5 persons, at budgetary institutions as well as at non-profit organisations that are significant in terms of employment amounted to HUF 574,400.

Average net earnings were HUF 382,000, excluding tax benefits and HUF 395,500, including tax benefits.

Both average gross earnings and average net earnings excluding tax benefits increased by 13.7 %, while net earnings including tax benefits rose by 13.6% compared with the same period of the previous year. The change in average earnings was affected by the last year’s February payment of the “service premium” (the so-called “firearms money”) for the army and the law enforcement personnel corresponding to six-month salary. Without this effect the rise of the average gross earnings and the average net earnings including tax benefits would be higher by 2.8 percentage points.