In Q1 2012 gross average wages of the national economy increased by 4.4 percent, whereas net wages excluding family tax benefits increased by 1.6 percent in comparison to the corresponding period of the previous year – the KSH has reported earlier today in its statistical release.

In the national economy gross average wage of the full time employed was 222 700HUF in March 2012 which corresponds to a rise of 2.7 percent compared to the corresponding period of the previous year. Net wage – which was 144 200HUF – has been practically unchanged compared to the figure of last year which was a period of a sharp wage hike. Net wage calculation, however, does not take into consideration the favourable impact of family tax benefits which can be claimed for children.

Source: Central Statistics Office (KSH)

The average gross wage for public sector employees has risen even more dynamically by 5.8 percent and is currently 238 300HUF, whereas net wage is 154 000HUF after an increase of 2.7 percent. The gross average wage for employees of budgetary institutions – excluding employees of public employment schemes – increased by 1.8 percent in comparison to the corresponding period of the previous year, and it is currently 204 300HUF.

Employees in the financial and insurance sectors have continued to be top wage earners, followed by employees in the information and communication, after that the energy industry sector. The lowest paid employees were in the hotel trade and catering sectors.

(Ministry for National Economy)