Hungary's wage growth strengthens to 4.1% y/y in April 2014

By bne IntelliNews June 20, 2014

Hungary's average monthly gross wage increased by 4.1% y/y to HUF 239,739 (EUR 784) in April 2014, speeding up from a 2.8% growth the month before, the statistics office informed.

The average earnings in the business sector grew by 4.4% y/y to HUF 258,701, while wages in the public sector went up by 5.7% y/y to HUF 205,893.

The average net wage in the country, excluding family tax benefits, was also 4.1% higher on the year at HUF 157,029 in April. The growth could be attributed to both the business sector, where net earnings advanced by 4.4% y/y, and the public sector, where net wages increased by 5.7% y/y.

In terms of nominal value, the best paid sectors in April continued to be financial and insurance activities (HUF 504,700) as well as information and communication (HUF 470,200). At the bottom of the ranking remained the accommodation and food services sector (HUF 153,300) as well as human health and social work activities (HUF 136,800).

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