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Gross wages up 16.1 percent in January

In January 2023 full-time employees’ gross average earnings were HUF 528,000 and average net earnings with tax benefits reached HUF 363,900. Average gross earnings grew by 16.1%, and average net earnings were 16.0% higher than a year earlier.

Full-time employees’ average gross earnings amounted to HUF 528,000.

The highest average gross earnings were recorded in the information and communication section (HUF 867,400) and the lowest ones in accommodation and food service activities (HUF 349,700).

Estimated average gross regular earnings (gross earnings without premiums and one-month bonuses) were HUF 502,900, being 17.3% higher than a year earlier. Regular average gross earnings reached HUF 505,600 in the business sector, HUF 489,800 in the budgetary sector, and HUF 513,600 in the non-profit sector, representing growths of 18.2%, 15.3% and 14.0%, compared to the previous year.

Average net earnings were HUF 351,100 excluding tax benefits and HUF 363,900 including them, being 16.1% and 16.0% higher than a year earlier.

Real earnings fell by 7.6%, along with a 25.7% year-on-year increase in consumer prices.

Gross median earnings reached HUF 422,400, surpassing the previous year’s value by 17.1%.

Net median earnings including tax benefits were HUF 294,500, surpassing the January last year value by 17.0%.

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