Hungary twelve-month gross wage growth slows to 1.1pc

Real wages dropped 2.7pc, calculating with twelve-month CPI of 3.7pc in June. Real wages fell 1.8pc in May. In January-June, gross wages rose 1.3pc from the same period a year earlier. Net wages were up 1pc. Gross wages in the business sector inched up 0.4pc, while gross wages in the public sector dropped a sharp 8.4pc, mainly because of changes to the payment of annual bonuses in the sector. Real wages fell 2.2pc in January-June from the same period a year earlier, calculating with 3.3pc consumer price inflation. Regular wages – wages excluding premiums and bonuses – rose 4.2pc in January-June. Regular wages in the business sector climbed 5.6pc and regular wages in the public sector inched up 0.9pc. Full-time employees earned an average gross monthly HUF 198,200 in January-June. Employees in the business sector earned HUF 197,000 and employees in the public sector earned HUF 204,100. The average number of employees was 2,667,000 in January-June. There were 1,848,000 employees in the business sector and 731,000 in the public sector. The number of employees in the business sector fell 6.2pc from the same period a year earlier, while the number in the public sector rose 1.1pc.

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