In the period January-September 2015, wages in real terms increased significantly, by 4.2 percent, within the national economy, the Hungarian Central Statistical Office (KSH) reported earlier today. In comparison to September 2014, the number of private sector jobs was 47 thousand higher at enterprises with at least five employees.

Within the national economy, gross and net wages averaged HUF 243 00 and HUF 159 200 (excluding family tax allowances) in the observed period, which – thanks to an unchanged tax system -- shows an increase of 3.9 percent year-on-year. Including family tax allowances, net wages averaged HUF 166 100.

Excluding the effect of public work schemes, gross wages averaged HUF 259 500 in the private sector, HUF 248 200 at budgetary institutions and HUF 235 100 at non-profit organizations in the period January-September 2015.

Thanks to the 0.3 percent decline of consumer prices, wages in real terms increased more than gross wages. Thus, in January-September 2015, wages in real terms were up by 4.2 percent, and -- excluding the effect of public work schemes -- they increased by 4.3 percent. Excluding public work schemes, wages in real terms were 4.0 percent higher within the private sector, 4.9 percent higher in the public sector and 3.5 percent higher in the non-profit sector. Wages of public work employees increased by 2.7 percent over the past one year.

Thanks to the steady growth of the Hungarian economy, wage hikes within the private and public sectors, low inflation and the Job Protection Action Plan, wages in real terms have been on the rise in Hungary. Recent macro-economic data are also pointing to further wage increases, which will have a positive effect on the financial status of Hungarian families and their standard of living. Available data and economic estimates confirm that Hungarian reforms are working.

For detailed data please visit www.ksh.hu.

(Ministry for National Economy)