Average gross earnings amounted to HUF 257,900
In August 2016, average gross earnings amounted to HUF 258,300, 6.9% more than one year before.
In January–August 2016, average gross earnings increased by 6.0% compared to the same period of the previous year. The 5.7% rise of the minimum wage and the guaranteed minimum wage, as well as the salary increase of armed forces and the payment of an additional allowance for those working in the social field had an impact on earnings growth. Due to the 1 percentage point reduction in the rate of personal income tax, in the first eight months of the year, the rise of average net earnings was 7.6%, i.e. higher than that of average gross earnings.
In August 2016:
Full-time employees’ average gross nominal earnings according to the national concept amounted to HUF 258,300 at corporations employing at least 5 persons, budgetary and designated non-profit institutions.
Average net earnings by national concept were HUF 171,700 excluding family tax benefits and HUF 178,900 including them.
Along with the 6.9% increase of gross earnings, net earnings grew by 8.5% compared to the same period of the previous year due to changes in personal income tax rules.
In January–August 2016:
Full-time employees’ average gross nominal earnings according to the national concept amounted to HUF 257,900 at corporations employing at least 5 persons, budgetary and designated non-profit institutions.
Average gross earnings were the highest in financial and insurance activities (HUF 520,100) and the lowest in human health and social work activities (HUF 149,600).
A part of employees at budgetary institutions and non-profit organizations – about 145 thousand persons – received a compensation not belonging to wages and salaries for changes in taxes and contributions. The average amount of the compensation was HUF 9,600 at budgetary institutions and HUF 9,400 at non-profit institutions.
Average net earnings – excluding family tax benefits – were HUF 171,500 by national concept. In 2016, the rules of family tax benefits changed considerably – mainly in case of families with two children –, which had an effect on the amount and change of net earnings. Taking into account family tax benefits, average net earnings are estimated to be HUF 178,700.
Monthly average gross wages and salaries according to the SNA concept amounted to HUF 271,200. Within this indicator, the share of other wages and salaries was 4.9% on the average.
Along with the 6.0% increase of gross earnings, net earnings grew by 7.6% due to changes in personal income tax rules.
Along with the 0.1% rise in consumer prices compared to the same period of the previous year, real earnings increased by 7.5%.
Regular gross earnings (gross earnings without premiums and one-month bonus) and average gross earnings increased at the same rate, by 6.0%.
Wages and salaries according to the SNA concept were 5.9% higher than a year earlier.
Average monthly earnings, January– August 2016
| Sector | Total | Without fostered workers | ||
|---|---|---|---|---|
| average earnings, HUF | change compared to the corresponding period of the previous year, % | average earnings, HUF | change compared to the corresponding period of the previous year, % | |
| Gross earnings | ||||
| Business sector | 272 800 | 5,3 | 274 100 | 5,3 |
| Budgetary institutions | 229 900 | 7,6 | 271 100 | 9,8 |
| Non-profit institutions | 226 700 | 5,3 | 248 200 | 5,8 |
| National economy total | 257 900 | 6,0 | 272 500 | 6,5 |
| Of which: | ||||
| fostered workers | 79 100 | -1,3 | x | x |
| Net earnings | ||||
| Business sector | 181 400 | 6,9 | 182 300 | 6,9 |
| Budgetary institutions | 152 900 | 9,3 | 180 300 | 11,5 |
| Non-profit institutions | 150 700 | 6,9 | 165 100 | 7,5 |
| National economy total | 171 500 | 7,6 | 181 200 | 8,1 |
| Of which: | ||||
| fostered workers | 52 600 | 0,2 | x | x |