In October 2023, the gross average earnings of full-time employees was HUF 564,400 (approx. 1504.87 EUR), and the net average earnings calculated with taxes taken into account was HUF 389,300(approx. 1038.00 EUR), the Central Statistical Office (KSH) announced on Thursday.
According to the announcement, gross and net average earnings increased by 14.0 percent and real earnings by 3.7 percent compared to a year earlier.
The regular gross average earnings (without premiums, bonuses, and one-month special benefits) can be estimated at HUF 540,200, 14.5 percent higher than a year earlier. The regular gross average earnings in enterprises amounted to HUF 545,000, in the budget sector to HUF 517,300, and in the non-profit sector to HUF 556,300 in October, rising by 14.9, 12.1, and 15.8 percent, respectively, in one year, they wrote.
The average net salary without discounts was HUF 375,300, 14.0 percent more than in October 2022.
KSH indicated that real earnings increased by 3.7 percent in addition to the 9.9 percent increase in consumer prices compared to the same period of the previous year.
The gross median earnings were HUF 456,300, 14.4 percent higher than a year earlier. The median value of net earnings, calculated taking discounts into account, reached HUF 318,300, 15.3 percent higher than the same period of the previous year.
In January-October, the gross average salary of full-time employees was HUF 557,800, the net average salary without discounts was HUF 370,900, and HUF 384,600 with discounts. The gross, net average earnings calculated without discounts, as well as the net earnings calculated taking into account the discounts, both increased by 14.0 percent compared to the same period of the previous year.
The change in the average salary was influenced by the service allowance corresponding to six months’ salary paid to the national defense and law enforcement professional staff in February 2022. Filtering out the effect of this, the growth of the gross average earnings and the net average earnings calculated taking discounts into account would both be 1.6 percentage points higher.
The gross average earnings of those employed full-time at businesses employing at least 5 people, budget institutions, and non-profit organizations significant from the point of view of employment was HUF 575,200 in January-October 2023. The net average earnings without discounts reached HUF 382,500, and HUF 396,200 with discounts taken into account. The gross and average net earnings calculated without discounts both increased by 14.1 percent, and the net earnings calculated with discounts by 14.0 percent compared to the same period of the previous year.
The change in the average salary was influenced by the service allowance corresponding to six months’ salary paid to the national defense and law enforcement professional staff in February 2022. Filtering out the effect of this, the growth of the gross average earnings and the net average earnings calculated taking discounts into account would both be 1.7 percentage points higher, the KSH announced.
(MTI)
