Thanks to the favourable external economic environment -- factors such as the low prices of fuels on world markets -- and the improvement of the domestic economic environment -- factors such as the rebound of domestic consumption, industrial output and export growth --, major Hungarian labour market indicators improved in 2015. Wage data from January 2016 also signal a positive wage growth trend, although there is huge diversity between the wages for different jobs. There were massive wage hikes in most sectors, driven among others by acute or protracted labour shortages. Net wage growth has also gained from the 1 percentage point reduction of the personal income tax as of 1 January 2016, as well as the increase of family tax allowance for parents with two children.

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(Ministry for National Economy)