Average gross wages in Hungary jumped 15.6 percent from a year earlier to HUF 421,700 in June of 2020, following a 9.4 percent rise in May. It is the biggest wage increase since January of 2003, due to a one-time HUF 500,000 bonus received by health care workers. In January–June 2020, average gross earnings amounted to HUF 395,000, a 9.9 percent rise over a year earlier, with the highest earnings seen in financial and insurance activities (HUF 723,500) and the lowest (HUF 249,900) in accommodation and food service activities. Considering the 3.4 percent rise in consumer prices, real earnings increased by 6.3 percent in the first half of 2020.

Wage Growth in Hungary averaged 8.44 percent from 1999 until 2020, 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. This page provides - Hungary Wage Growth- actual values, historical data, forecast, chart, statistics, economic calendar and news. Hungary Gross Average Wages Growth - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020.

Wage Growth in Hungary is expected to be 8.10 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 7.60 in 12 months time. In the long-term, the Hungary Gross Average Wages Growth is projected to trend around 8.00 percent in 2021 and 8.20 percent in 2022, according to our econometric models.

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Hungary Gross Average Wages Growth

Actual Previous Highest Lowest Dates Unit Frequency
15.60 9.40 26.19 -5.30 1999 - 2020 percent Monthly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-05-28 07:00 AM Mar 9% 9.1% 8.2%
2020-06-30 07:00 AM Apr 7.8% 9% 8.7%
2020-07-31 07:00 AM May 9.4% 7.8% 7.3%
2020-08-31 07:00 AM Jun 15.6% 9.4% 8.4%
2020-09-30 07:00 AM Jul 15.6%
2020-10-30 08:00 AM Aug
2020-11-30 08:00 AM Sep 8.1%
2020-12-21 08:00 AM Oct
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Hungary Gross Wages Rise the Most since 2003
Average gross wages in Hungary jumped 15.6 percent from a year earlier to HUF 421,700 in June of 2020, following a 9.4 percent rise in May. It is the biggest wage increase since January of 2003, due to a one-time HUF 500,000 bonus received by health care workers. In January–June 2020, average gross earnings amounted to HUF 395,000, a 9.9 percent rise over a year earlier, with the highest earnings seen in financial and insurance activities (HUF 723,500) and the lowest (HUF 249,900) in accommodation and food service activities. Considering the 3.4 percent rise in consumer prices, real earnings increased by 6.3 percent in the first half of 2020.
2020-08-31
Hungary Wages Rise Faster
Average gross wages in Hungary rose 9.4 percent from a year earlier to HUF 398,800 in May of 2020, following a 7.8 percent rise in April and the biggest increase in five months. Wages went up faster in both the private (10 percent vs 7.7 percent in April) and the public sector (10.1 percent vs 9.6 percent). Considering the first five months of the year, gross wages went up 8.8 percent over the same period of 2019 to HUF 390,000
2020-07-31
Hungary Gross Wage Growth at Over 1-Year Low
Average gross wages in Hungary grew 7.8 percent from a year earlier to HUF 400,200 in April 2020, easing from a 9 percent increase in the previous month. It was the smallest gain in earning since December 2016, amid the coronavirus crisis. Wages advanced at a slower pace in the private sector (7.7 percent vs 9 percent in March) while in the public sector rose further (9.6 percent vs 8.7 percent). Considering the first four months of the year, gross wages went up 8.7 percent over the same period of 2019 to HUF 388,000.
2020-06-30
Hungary Gross Wage Growth Nears 1-Year Low
Average gross wages in Hungary grew 9 percent from a year earlier to HUF 400,400 in March of 2020, after a 9.1 percent rise in the previous month. It was the slowest increase in earnings since April of 2019, as wages advanced at a softer pace in the private sector (9 percent vs 9.6 percent in February) while in the public went up further (8.7 percent vs 7.1 percent). In the first quarter of the year, gross wages rose by 9.1 percent from the same period a year ago to HUF 384,200. The statistical office said that March figures only partly reflected the economic impact of the coronavirus pandemic.
2020-05-28

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.