Wages in Hungary increased 14.90 percent in May of 2022 over the same month in the previous year. source: Hungarian Central Statistical Office

Wage Growth in Hungary averaged 8.66 percent from 1999 until 2022, reaching an all time high of 31.10 percent in February of 2022 and a record low of -5.30 percent in January of 2009. This page provides - Hungary Wage Growth- actual values, historical data, forecast, chart, statistics, economic calendar and news. Hungary Gross Average Wage Growth - data, historical chart, forecasts and calendar of releases - was last updated on August of 2022.

Wage Growth in Hungary is expected to be 8.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Hungary Gross Average Wage Growth is projected to trend around 8.20 percent in 2023, according to our econometric models.

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Hungary Gross Average Wage Growth



Calendar GMT Actual Previous Consensus TEForecast
2022-06-24 07:00 AM Apr 15.1% 17% 18%
2022-07-25 07:00 AM May 14.9% 15.1% 13%
2022-08-24 07:00 AM Jun 14.9%


Related Last Previous Unit Reference
Unemployment Rate 3.20 3.40 percent Jun 2022
Unemployed Persons 156948.00 164686.00 May 2022
Employed Persons 4693221.00 4693335.00 May 2022
Job Vacancies 86881.00 79987.00 Mar 2022
Wages 481598.00 492043.00 HUF/Month May 2022
Wage Growth 14.90 15.10 percent May 2022
Population 9.73 9.77 Million Dec 2021
Employment Rate 64.01 63.99 percent May 2022
Labor Force Participation Rate 66.16 66.23 percent May 2022

Hungary Gross Average Wage Growth
Gross wage measures the year over year change in gross monthly average earnings of full-time employees in the national economy.
Actual Previous Highest Lowest Dates Unit Frequency
14.90 15.10 31.10 -5.30 1999 - 2022 percent Monthly
NSA

News Stream
Hungary Gross Wage Growth Eases Further in April
Hungary's gross average wages rose by 15.1 percent from a year earlier to HUF 507,500 in April 2022, easing from a 17 percent increase in the previous month. It was the smallest gain in three months, as wages slowed in both the private sector (14.5 percent vs. 16.2 percent in March) and the public sector (12.0 percent vs. 17.3 percent). Without the impact of one-off payments and bonuses, April gross wages increased by 14.1 percent.
2022-06-24
Hungary Gross Wage Growth Eases from Record High
Hungary’s gross average wages advanced by 17 percent from a year earlier to HUF 511,400 in March of 2022, following a record 31.1 percent jump in the previous month. Wage growth was fuelled by previously scheduled wage hikes, one-time payment and a rise of the minimum wage. Growth in earnings slowed significantly for public sector (17.3 percent vs 93.4 percent in February) while increased slightly for private sector (16.2 percent vs 12.2 percent). Without the impact of one-off payments and bonuses, March gross wages increased by 15.5 percent year-on-year.
2022-05-24
Hungary Gross Wage Growth at Record High
Hungary’s gross average wages advanced by 31.1 percent from a year earlier to HUF 526,844 in February of 2022, following a 14.2 percent jump in the previous month. It was the steepest gain on record, largely due to a significant increase in the minimum wage and minimum wage for skilled workers. Wages increased for workers from budgetary institutions (53.5 percent to HUF 599,700) and in the business sector (12.3 percent to HUF 477,200).
2022-04-26