Average gross earnings amounted to HUF 297,000
In December 2017, average gross earnings amounted to HUF 327,700, 13.5% higher than a year earlier. In January–December 2017, average gross earnings amounted to HUF 297,000 and average net earnings to HUF 197,500. In the twelve months of the year, both gross and net earnings grew to the same extent, by 12.9% compared to the same period of the previous year. Rises of 15% in the minimum wage and 25% in the guaranteed minimum wage as well as salary adjustments affecting specific areas of the public sector and the employees of state owned public service companies had an impact on earnings growth.
In December 2017:
Full-time employees’ average gross nominal earnings according to the national concept amounted to HUF 327,700 at corporations employing at least 5 persons, budgetary and designated non-profit institutions.
Average net earnings by national concept were HUF 217,900 excluding family tax benefits and HUF 225,800 including them.
Both gross earnings and net earnings grew by 13.5% compared to the same period of the previous year.
In January–December 2017:
Full-time employees’ average gross nominal earnings according to the national concept amounted to HUF 297,000 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 561,600) and the lowest (HUF 185,000) in human health and social work activities employing the majority of fostered workers. Excluding the data of fostered workers, average gross earnings amounted to HUF 255,000 in human health and social work activities.
A part of employees at budgetary institutions and non-profit organisations – about 106 thousand persons – received a compensation not belonging to wages and salaries for changes in taxes. The average amount of the compensation was HUF 8,700 at budgetary and HUF 8,500 at non-profit institutions.
Average net earnings – excluding family tax benefits – were HUF 197,500 by national concept. In 2017, the family tax benefits rose in case of families with two children. Taking into account family tax benefits, average net earnings are estimated to be HUF 205,400.
Monthly average gross wages and salaries according to the SNA concept amounted to HUF 312,100, which were 12.6% higher than a year earlier. Within this indicator, the share of other wages and salaries was 4.8% on the average.
Both gross earnings and net earnings grew to the same extent, by 12.9% compared to the previous year.
Along with the 2.4% rise in consumer prices compared to the same period of the previous year, real earnings increased by 10.3%.
Regular gross earnings (gross earnings without premiums and one-month bonus) increased less than average gross earnings, by 12.8%.
Average monthly earnings, January–December 2017
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 | 309 000 | 11.6 | 310 000 | 11.4 |
Budgetary institutions | 275 300 | 15.9 | 317 200 | 13.0 |
Non-profit institutions | 258 300 | 11.2 | 281 300 | 10.6 |
National economy total | 297 000 | 12.9 | 310 800 | 11.7 |
Of which: | ||||
fostered workers | 81 700 | 3.5 | x | x |
Net earnings | ||||
Business sector | 205 500 | 11.6 | 206 200 | 11.4 |
Budgetary institutions | 183 000 | 15.9 | 211 000 | 13.0 |
Non-profit institutions | 171 800 | 11.2 | 187 100 | 10.6 |
National economy total | 197 500 | 12.9 | 206 700 | 11.7 |
Of which: | ||||
fostered workers | 54 300 | 3.5 | x | x |