Analysts: the pace of wage growth will slow this year

By: Trademagazin editor Date: 2021. 02. 26. 11:27

Compared to the performance of the economy, wage growth was particularly dynamic last year, but this year the pace may slow markedly, as already indicated by the agreement on the minimum wage and the guaranteed minimum wage, analysts who told MTI commented on the latest earnings data.

According to a report issued by the Central Statistical Office (KSH) on Thursday, the average gross earnings of full-time employees were 449,400 HUF last December, 10.6 percent higher than a year earlier. In 2020, the average gross earnings reached 403,600 HUF, which is an increase of 9.7 percent, compared to the same period of the previous year. Real wages rose 6.2 percent, with consumer prices rising 3.3 percent year-on-year. (MTI)