Average gross wages in Hungary advanced 11.6 percent year-on-year to HUF 365,100 in October of 2019, following a 11.8 percent rise in September. Average net earnings were HUF 242,800 excluding tax benefits and HUF 250,200 including them. Wages increased at a softer pace in both the private sector (11.5 percent vs 11.6 percent in September) and the public sector (11.7 percent vs 11.8 percent). Considering the first ten months of the year, average gross earnings amounted to HUF 360,400 and average net earnings to HUF 239,700; both of them grew by 10.9% compared to the same period of the previous year. Wage Growth in Hungary averaged 8.36 percent from 1999 until 2019, 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 10.00 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 9.00 in 12 months time. In the long-term, the Hungary Gross Average Wages Growth is projected to trend around 8.20 percent in 2020, according to our econometric models.

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Hungary Gross Average Wages Growth

Actual Previous Highest Lowest Dates Unit Frequency
11.60 11.80 26.19 -5.30 1999 - 2019 percent Monthly
NSA



Calendar GMT Actual Previous Consensus TEForecast
2019-09-30 07:00 AM Jul 10.7% 10.6% 10.8%
2019-10-30 08:00 AM Aug 11.5% 10.7% 11%
2019-11-29 08:00 AM Sep 11.8% 11.5% 10.9%
2020-01-06 08:00 AM Oct 11.6% 11.8% 11.1%
2020-01-31 08:00 AM Nov 11.6% 11.3%


News Stream
2019-11-29
Hungary Gross Wages Rise Faster in September
Average gross wages in Hungary advanced 11.8 percent year-on-year to HUF 360,700 in September of 2019, following an 11.5 percent rise in August. Average net earnings were HUF 239,900 excluding tax benefits and HUF 247,300 including them. Considering the first nine months of 2019, average gross earnings increased 10.8 percent and amounted to HUF 359,900.

2019-10-30
Hungary Gross Wage Growth at 1-Year High
Average gross wages in Hungary advanced 11.5 percent year-on-year to HUF 358,900 in August 2019, up from a 10.7 percent gain in the previous month. It was the biggest increase in earnings since July 2018. In the January to August period, gross wages rose 10.7 percent from the same period a year earlier.

2019-09-30
Hungary Gross Wages Rise 10.7% YoY in July
Average gross wages in Hungary increased by 10.7 percent year-on-year to HUF 362,600 in July of 2019, slightly below a 10.6 percent gain in the previous month. In the January-July period, gross wages advanced by 10.6 percent from the same period a year earlier.

2019-08-30
Hungary Gross Wages Grow Faster in June
Average gross wages in Hungary increased by 10.6 percent year-on-year to HUF 364,799 in June of 2019, below an 11.2 percent gain in the previous month. In the January-June period, gross wages advanced by 10.6 percent from the same period a year earlier.

2019-07-30
Hungary Gross Wages Rise 11.2% YoY in May
Average gross wages in Hungary increased by 11.2 percent year-on-year to HUF 364,400 in May 2019, following a 9.0 percent gain in the previous month, as wages rose further in both private (11.2 percent compared to 10.3 percent in April) and public sectors (10.7 percent compared to 3.6 percent). In the January-May period, gross wages advanced by 10.6 percent from the same period a year earlier.

2019-06-28
Hungary Gross Wages Rise at a Softer Pace in April
Average gross wages in Hungary increased by 9.0 percent year-on-year to HUF 371,131 in April 2019, easing from a 10.2 percent gain in the previous month, as wages advanced at a softer pace in both private (10.3 percent compared to 11.7 percent in March) and public sectors (3.6 percent vs 5.3 percent). In the first four months, gross wages advanced by 10.4 percent from the same period a year earlier.


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. .

Hungary Labour Last Previous Highest Lowest Unit
Unemployment Rate 3.50 3.50 11.80 3.30 percent [+]
Employed Persons 4517042.00 4520453.00 4520990.00 3678730.00 [+]
Unemployed Persons 163286.00 163616.00 506520.00 155488.00 [+]
Long Term Unemployment Rate 1.10 1.10 5.70 1.10 percent [+]
Youth Unemployment Rate 13.00 12.40 29.50 9.60 percent [+]
Labour Costs 123.10 130.70 133.40 31.30 points [+]
Job Vacancies 78315.00 79684.00 87665.00 21130.00 [+]
Wages 365135.00 360709.00 371131.00 60268.00 HUF/Month [+]
Wage Growth 11.60 11.80 26.19 -5.30 percent [+]
Minimum Wages 464.20 464.20 464.20 89.15 EUR/Month [+]
Population 9.78 9.80 10.71 9.21 Million [+]
Retirement Age Women 64.00 63.50 64.00 59.00 [+]
Retirement Age Men 64.00 63.50 64.00 60.00 [+]
Labor Force Participation Rate 63.11 63.14 63.14 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 [+]
Productivity 114.40 109.40 121.70 59.70 points [+]
Part Time Employment 201.00 197.30 265.20 111.90 Thousand [+]
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 0.20 0.30 1.80 -1.30 percent [+]
Employment Rate 60.90 60.94 60.94 47.98 percent [+]
Full Time Employment 4241.60 4236.50 4241.60 3150.50 Thousand [+]