May Sees Surge in Salaries, Reports Statistical Office
Average Earnings in Hungary See Significant Increases in May
According to the latest report from the Hungarian Central Statistical Office (KSH), the average gross earnings of full-time employees in May of this year reached HUF 652,000 (EUR 1,657). After deductions, the average net earnings stood at HUF 448,700 (EUR 1,140).
Comparing these figures to the same period last year, average gross earnings saw a substantial increase of 14.8 percent, while average net earnings rose by 14.6 percent. Real earnings also experienced a notable growth of 10.4 percent year-on-year.
The median gross earnings for May were recorded at HUF 525,100 (EUR 1,334), with median net earnings at HUF 363,900 (EUR 925). These figures marked increases of 16.9 percent and 17.2 percent, respectively, from the previous year.
In terms of average gross regular earnings (excluding bonuses and special allowances), the report showed a 15.1 percent increase year-on-year, amounting to HUF 607,800 (EUR 1,545) for May. Within this category, the average regular gross salary was highest in the non-profit sector at HUF 636,200 (EUR 1,617), reflecting a 19.3 percent increase.
Furthermore, average net earnings excluding deductions reached HUF 433,600 (EUR 1,102) for May, marking a 14.8 percent rise from the same period last year. Real earnings also saw a notable growth of 10.4 percent, with consumer prices up by 4.0 percent year-on-year.
For the period from January to May, the average gross earnings of full-time employees were HUF 633,300 (EUR 1,609), with average net earnings at HUF 421,100 (EUR 1,070) without deductions and HUF 435,800 (EUR 1,107) including deductions. These figures represented increases of 14.2 percent and 14.0 percent, respectively, compared to the same period last year.
Overall, the data indicates a positive trend in earnings in Hungary, with significant growth in both gross and net earnings across various sectors.
