Last October, the average gross earnings were HUF 397,400, just as in September it was 8.8 percent higher than a year earlier. The average gross earnings for the first ten months reached HUF 395,300 and the net average earnings excluding discounts amounted to HUF 262,900, both of which increased by 9.7 percent compared to the same period of the previous year, the Central Statistical Office (KSH) said on Wednesday.
With 3.0 percent inflation last October, the annual rise in real earnings was 5.6 percent.
Excluding public employees, the average salary in October was HUF 408,100, 8.7 percent more than a year earlier.
For enterprises with at least five full-time employees, average earnings rose 9.4 percent after 9.8 percent in September. Among those employed in the public sector – excluding public employees – wage growth slowed to 6.9 percent from 8.5 percent in September.
Net average earnings, excluding discounts, reached HUF 264,200 in October, taking the discounts into account, reaching HUF 272,900. Net earnings, taking into account discounts, increased by 9.1 percent compared to the same period last year.
The regular average gross earnings calculated without premiums, bonuses and one-month special benefits can be estimated at HUF 377,200, which is 9.5 percent higher than a year earlier.
During the first ten months of last year, the average gross earnings of full-time employees were HUF 395,300, excluding public employees HUF 405,900. Net average earnings reached HUF 262,900 without discounts and HUF 271,700 including discounts.
Both gross and net average earnings excluding benefits increased by 9.7 percent and net earnings after taking into account benefits by 9.9 percent year-on-year, due in part to the temporary reduction or suspension of gross wages and salaries in certain sectors – the KSH’s report shows.
Real wages rose 6.0 percent, with consumer prices rising by 3.5 percent compared to the same period last year.
The regular average gross earnings, excluding bonuses and one-month special benefits, can be estimated at HUF 369,100, which is 9.2 percent higher than in the first ten months of the previous year.
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