Hungary average gross wage reaches HUF 754,700 in June

Data from the Central Statistical Office (KSH) shows that in June, Hungary's average gross wage was HUF 754,700, a 7.1% increase year-on-year. Net average earnings rose 9.4% to HUF 529,700, a growth rate outpacing gross pay due to expanded family tax allowances and benefits for mothers. Real earnings increased by 7.6% as inflation remained low at 1.7%.

However, the median gross wage was significantly lower at HUF 617,900, with a net median of HUF 438,000. This gap indicates that high earners and bonuses pull the average upward, while the majority of workers earn below the reported average.

The labor market shows mixed trends. While employment figures saw a seasonal increase in July, reaching 4.675 million people, the number of unemployed rose to 222,000, resulting in a 4.5% unemployment rate. Notably, the proportion of those seeking work for more than a year has increased to 34.7%.