Average gross earnings amounted to HUF 260,800 in January-November
In November 2016, average gross earnings amounted to HUF 285,800, 8.2% more than one year before.
In January–November 2016, average gross earnings amounted to HUF 260,800 and increased by 6.2% 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 health and 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 eleven months of the year, the rise of average net earnings was 7.8%, i.e. higher than that of average gross earnings.
In November 2016:
Full-time employees’ average gross nominal earnings according to the national concept amounted to HUF 285,800 at corporations employing at least 5 persons, budgetary and designated non-profit institutions.
Average net earnings by national concept were HUF 190,000 excluding family tax benefits and are estimated to be HUF 197,200 including them.
Along with the 8.2% increase of gross earnings, net earnings grew by 9.8% compared to the same period of the previous year due to changes in personal income tax rules.
In January–November 2016:
Full-time employees’ average gross nominal earnings according to the national concept amounted to HUF 260,800 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 514,100) and the lowest in human health and social work activities (HUF 153,300).
A part of employees at budgetary and non-profit institutions – about 143 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 9,500 at budgetary institutions and HUF 9,400 at non-profit institutions.
Average net earnings – excluding family tax benefits – were HUF 173,500 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 180,600.
Monthly average gross wages and salaries according to the SNA concept amounted to HUF 274,400. Within this indicator, the share of other wages and salaries was 4.9% on the average.
Along with the 6.2% increase of gross earnings, net earnings grew by 7.8% due to changes in personal income tax rules.
Along with the 0.3% 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) increased by 0.1 percentage point less than average gross earnings.
Wages and salaries according to the SNA concept were 6.1% higher than a year earlier.
Average monthly earnings, January– November 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 | 274 800 | 5.5 | 276 000 | 5.5 |
| Budgetary institutions | 235 000 | 7.8 | 277 700 | 9.6 |
| Non-profit institutions | 228 400 | 5.8 | 250 100 | 5.9 |
| National economy total | 260 800 | 6.2 | 275 600 | 6.6 |
| Of which: | ||||
| fostered workers | 78 900 | –1.0 | x | x |
| Net earnings | ||||
| Business sector | 182 700 | 7.1 | 183 600 | 7.1 |
| Budgetary institutions | 156 300 | 9.4 | 184 700 | 11.3 |
| Non-profit institutions | 151 900 | 7.4 | 166 300 | 7.6 |
| National economy total | 173 500 | 7.8 | 183 300 | 8.2 |
| Of which: | ||||
| fostered workers | 52 500 | 0.5 | x | x |