Average gross wages in Hungary rose by 10.4 percent year-on-year to HUF 322,800 in September 2018 after a 10.1 percent increase in the prior month. Wages in the public sector went up faster (8.5 percent vs 6.1 percent in August), while in the private sector advanced at a softer pace (11.1 percent vs 11.4 percent). Considering the first nine months of the year, average gross earnings went up 11.7 percent to HUF 324,100. Earnings growth was impacted by a boost in labour demand, rises of 8% in the minimum wage and 12% 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 8.23 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 10.30 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
2018-08-22 07:00 AM Gross Wage YoY 11.2% 10.9% 11.7%
2018-09-20 07:00 AM Gross Wage YoY 12.8% 11.2% 11.5%
2018-10-19 07:00 AM Gross Wage YoY 10.1% 12.8% 10.9%
2018-11-22 08:00 AM Gross Wage YoY 10.4% 10.1% 10.6%
2018-12-20 08:00 AM Gross Wage YoY 10.4% 10.5%
2019-01-20 08:00 AM Gross Wage YoY
2019-02-20 08:00 AM Gross Wage YoY 10.30%


Hungary Labour Last Previous Highest Lowest Unit
Unemployment Rate 3.70 3.80 11.80 3.60 percent [+]
Employed Persons 4502086.00 4486797.00 4502086.00 3678730.00 [+]
Unemployed Persons 172904.00 178243.00 506520.00 165147.00 [+]
Long Term Unemployment Rate 1.40 1.60 5.70 1.40 percent [+]
Youth Unemployment Rate 9.90 10.00 29.40 9.40 percent [+]
Labour Costs 117.50 124.30 130.00 32.00 Index Points [+]
Job Vacancies 83611.00 79428.00 83611.00 21130.00 [+]
Wages 322752.00 321172.00 340559.00 60268.00 HUF/Month [+]
Wage Growth 10.40 10.10 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 62.93 62.77 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 185.20 179.60 265.20 111.90 Thousand [+]
Productivity 112.40 104.60 119.00 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 0.70 2.70 -1.40 percent [+]
Employment Rate 60.60 60.37 68.70 47.98 percent [+]
Full Time Employment 4233.10 4202.70 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 December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
10.40 10.10 26.19 -5.30 1999 - 2018 percent Monthly
NSA




Country Last Previous
Argentina 2.34 Sep/18
Australia 2.30 Sep/18
Euro Area 1.90 Jun/18
France 0.40 Jun/18
Germany 0.50 Jun/18
Italy 1.80 Oct/18
Japan 1.50 Oct/18
Netherlands 2.27 Nov/18
Russia 4.40 Oct/18
Switzerland 0.80 Jun/18
United Kingdom 3.00 Sep/18
United States 4.60 Sep/18


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