In June of this year, the average gross monthly earnings of those full-time employed amounted to 566,800 forints, while the average net monthly earnings calculated with deductions considered stood at 390,900 forints.
The gross average earnings were 16.0 per cent higher, and the net average earnings were 15.9 per cent higher compared to the same period last year, as reported by the Central Statistical Office (KSH) on Thursday.
The regular gross average earnings (calculated without taking into account bonuses, monetary awards and one-month special allowances) can be estimated at 525,300 forints, showing a 14.9 per cent increase from the previous year. The regular gross average earnings in the private sector reached 531,000 forints, 503,200 forints in the government sector, and 532,100 forints in the non-profit sector, marking respective increases of 15.9 per cent, 12.8 per cent, and 10.7 per cent over the year. The net average earnings without deductions amounted to 376,900 forints, showing a 16.0 per cent increase compared to June 2022.
Real wages decreased by 3.4 per cent, amidst a 20.1 per cent rise in consumer prices compared to the same period of the previous year. The gross median earnings amounted to 450,000 forints, surpassing the previous year by 15.6 per cent. The median net earnings, calculated considering deductions, reached 312,000 forints, exceeding the same period of the previous year by 15.6 per cent as well. Between January and June, the average gross monthly of those employed full time amounted to 556,700 forints. The net average earnings without deductions were 370,200 forints, while considering deductions, reached 383,800 forints.
Both the gross net average earnings without deductions and the gross net average earnings considering deductions increased by 13.6 per cent compared to the same period of the previous year. The change in average earnings was influenced by a service allowance equivalent to six months’ salary, called ‘weapons money,’ paid to the military and law enforcement personnel in February 2022. Excluding the effect of this allowance, the growth in both gross average earnings and net average earnings considering deductions would be 2.7 percentage points higher.
Related articles:
Source: Hungarian Conservative/KSH/MTI
