Major premiums must have been paid in several sectors in November 2016 which gave quite a boost to wage increase in Hungary. Including bonuses, net real wages rose 8.6% on average in the last autumn month than a year earlier.
Gross monthly average wage jumped nearly HUF 24,000 or 9% compared to October, thanks to bonuses and premiums. In annual comparison gross wages were up 8.2%.
Ex-bonus wages increased by 7.3% year on year.
Net real wages went up 8.6% compared to November 2015, which was identical to the increase last August.
Full-time employees (at companies in the public sector or at NGOs with staffs of over 5 people) took home HUF 190,000 per month on average in November, owing to the payment of premiums.
This sum will probably be smaller in December, lacking extra payments.
Businesses
Gross wages in the business sector rose 7.1% yr/yr in November, which is the fastest growth recorded in the past four years. Gross average wage including bonuses reached HUF 300,000.
Ex-bonus wages in the sector grew at a lower pace, by 6.8% in annual terms. The average ex-bonus wage came in at HUF 260,000.
The biggest bonuses were awarded in the financial-insurance sector and industry in the last autumn month, where gross wages (temporarily) leaped HUF 50,000-55,000 on average compared to October.
Public sector
When it comes to budgetary institutions, extra pays boosted gross average wage significantly in education. Gross average wage including bonuses rose HUF 25,000 to HUF 302,000 in education. Without the supplementary payments, though, we see no meaningful increase in ex-bonus wages.
On the whole, gross wages were up 10.5% yr/yr in the public sector, whereas ex-bonus wages rose 8.4%.
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