Hungary Wage Growth Slows to 7.8% in April


Wage growth for full-time workers in Hungary slowed to an annual 7.8% in April, data published by the Central Statistical Office (KSH) show. KSH said the economic impact of the coronavirus crisis contributed to the slowdown in wage growth. Wage growth slowed for the fifth month in a row.

In absolute terms, the average gross monthly wage stood at 400,200 forints (EUR 1,100). The average net wage was 266,100 forints.

The state secretary for employment policy at the Ministry of Innovation and Technology, commenting on the figures, said the government’s wage support scheme launched in response to the epidemic served to protect wages and jobs. Sándor Bodó said real wages had increased for the 88th month in a row, since early 2013. Compared with the same period ten years ago, gross wages were 88.6% higher and net wages 92.1% up in January-April this year, he added. A recent European Commission forecast for employment showed that Hungary had the most promising prospects among European Union members, he said.


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