Average gross wages in Hungary rose by 10.2 percent year-on-year to HUF 360,000 in December 2018, easing from a 10.4 percent gain in the previous month. Wages increased at a slower pace in the private sector (10.7 percent compared to 11.1 percent in November) while advanced further in the public (8.2 percent compared to 8.1 percent). Considering full 2018, average gross earnings rose 11.3 percent to HUF 329,900. Earnings growth was impacted by a boost in labour demand, rises of 8 percent in the minimum wage and 12 percent in the guaranteed minimum wage as well as salary adjustments affecting specific areas of the public sector and the employees of some state-owned public service companies. Wage Growth in Hungary averaged 8.25 percent from 1999 until 2018, reaching an all time high of 26.19 percent in January of 2005 and a record low of -5.30 percent in January of 2009.

Wage Growth in Hungary is expected to be 8.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Wage Growth in Hungary to stand at 8.40 in 12 months time. In the long-term, the Hungary Gross Average Wages Growth is projected to trend around 6.00 percent in 2020, according to our econometric models.

Hungary Gross Average Wages Growth
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Calendar GMT Actual Previous Consensus TEForecast
2018-11-22 08:00 AM Gross Wage YoY 10.4% 10.1% 10.6%
2018-12-20 08:00 AM Gross Wage YoY 10.8% 10.4% 10.5%
2019-01-22 08:00 AM Gross Wage YoY 10.4% 10.8% 11%
2019-02-21 08:00 AM Gross Wage YoY 10.2% 10.4% 10.3%
2019-03-29 08:00 AM Gross Wage YoY 10.2% 10%
2019-04-30 07:00 AM Gross Wage YoY
2019-05-30 07:00 AM Gross Wage YoY 8.8%


Hungary Labour Last Previous Highest Lowest Unit
Unemployment Rate 3.70 3.60 11.80 3.60 percent [+]
Employed Persons 4480725.00 4481322.00 4502086.00 3678730.00 [+]
Unemployed Persons 169762.00 167226.00 506520.00 165147.00 [+]
Long Term Unemployment Rate 1.40 1.40 5.70 1.40 percent [+]
Youth Unemployment Rate 11.40 10.20 29.40 9.40 percent [+]
Labour Costs 120.70 117.50 129.30 31.30 Index Points [+]
Job Vacancies 83337.00 87665.00 87665.00 21130.00 [+]
Wages 359978.00 355099.00 359978.00 60268.00 HUF/Month [+]
Wage Growth 10.20 10.40 26.19 -5.30 percent [+]
Minimum Wages 418.47 444.69 444.69 89.15 EUR/Month [+]
Population 9.78 9.80 10.71 9.21 Million [+]
Retirement Age Women 63.50 63.50 63.50 59.00 [+]
Retirement Age Men 63.50 63.50 63.50 60.00 [+]
Labor Force Participation Rate 62.66 62.61 62.93 53.84 percent [+]
Living Wage Family 221500.00 212300.00 221500.00 202500.00 HUF/Month [+]
Living Wage Individual 144800.00 135900.00 144800.00 127200.00 HUF/Month [+]
Part Time Employment 194.70 185.20 265.20 111.90 Thousand [+]
Productivity 121.70 112.40 121.70 59.70 Index Points [+]
Wages High Skilled 281600.00 246400.00 281600.00 218900.00 HUF/Month [+]
Wages Low Skilled 140400.00 120700.00 140400.00 109400.00 HUF/Month [+]
Employment Change 0.50 0.50 2.60 -1.40 percent [+]
Employment Rate 60.37 60.36 68.70 47.98 percent [+]
Full Time Employment 4230.90 4233.10 4233.10 3150.50 Thousand [+]


Hungary Gross Average Wages Growth

Gross wage measures the year over year change in gross monthly average earnings of full-time employees in the national economy. . This page provides - Hungary Wage Growth- actual values, historical data, forecast, chart, statistics, economic calendar and news. Hungary Gross Average Wages Growth - actual data, historical chart and calendar of releases - was last updated on March of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
10.20 10.40 26.19 -5.30 1999 - 2018 percent Monthly
NSA




Country Last Previous
Argentina 1.66 Dec/18
Australia 2.30 Dec/18
Canada 1.80 Dec/18
Euro Area 2.30 Dec/18
France 0.40 Jun/18
Germany 1.50 Sep/18
Italy 1.70 Dec/18
Japan 1.20 Jan/19
Netherlands 2.07 Feb/19
Russia 0.70 Feb/19
Switzerland 0.50 Sep/18
United Kingdom 3.40 Jan/19
United States 4.16 Jan/19


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