In August 2024, the gross average earnings of full-time employees amounted to 628,800 (approx. 1571,85 €) forints, while the net average earnings, calculated with tax allowances, reached 433,100 (approx. 1080,93 €) forints. The gross average earnings increased by 13.1%, net average earnings by 12.9%, and real wages by 9.4% compared to the same period a year ago, reported the Central Statistical Office (KSH) on Tuesday.
The median gross earnings were 520,000 forints, and the median net earnings were 360,100 forints, which were 15.6% and 15.3% higher than in the same period of the previous year, respectively.
In August, the regular gross average earnings (excluding bonuses, rewards, and one-month special allowances) were estimated at 601,300 forints, 13.8% higher than in the same period of the previous year. The regular gross average earnings were 600,800 forints in enterprises, 596,800 forints in the public sector, and 619,700 forints in the nonprofit sector, reflecting annual increases of 13.1%, 15.2%, and 16.6%, respectively.
The net average earnings, calculated without tax allowances, amounted to 418,100 forints, 13.1% higher than in August 2023.
Real earnings grew by 9.4% in August, considering a 3.4% increase in consumer prices compared to the same period of the previous year.
From January to August this year, the gross average earnings of full-time employees amounted to 634,300 forints. Net average earnings, excluding tax allowances, were 421,800 forints, while the net earnings with allowances amounted to 436,600 forints.
Both the gross and net average earnings, calculated without tax allowances, increased by 13.9%, while net earnings, considering allowances, grew by 13.7% compared to the same period last year.
(MTI)
