Published: November 22 2023
Hungary has recently signed a new agreement on minimum wage, with the aim of achieving real wage growth in the country. The agreement includes an increase in the monthly minimum wage for both unskilled and skilled workers, as well as recommendations for companies to raise pay and promote collective bargaining contracts.
Increase in Minimum Wage
Under the new agreement, the monthly minimum wage for unskilled workers will rise by 15% to Ft 266,800, or Ft 177,400 net. Skilled workers will see a 10% increase in their minimum wage, bringing it to Ft 326,000, or a net Ft 216,800.
Promoting Real Wage Growth
The agreement not only focuses on increasing the minimum wage but also emphasizes the need for companies to raise pay to ensure real wage growth. By encouraging companies to provide higher wages, the aim is to improve living standards and support the overall economic growth of the country.
Renewing the Minimum Wage System
In addition to the wage increases, the agreement also calls for discussions on renewing the minimum wage system. This suggests a potential review and evaluation of the current system to ensure its effectiveness and fairness in the future.
Encouraging Collective Bargaining Contracts
Part of the commitment outlined in the agreement is the promotion of collective bargaining contracts. By encouraging the negotiation of contracts between employers and employees, the aim is to establish fair and mutually beneficial agreements that can further contribute to real wage growth and overall labor market stability.
Questions & Answers
=== What is the new minimum wage in Hungary? The monthly minimum wage for unskilled workers will be increased by 15% to Ft 266,800, or Ft 177,400 net. The minimum wage for skilled workers will be increased by 10% to Ft 326,000, or a net Ft 216,800.
Who signed the agreement on the new minimum wage in Hungary? The trade union federation Maszsz was the only significant union alliance that did not sign the agreement. The other parties involved in the agreement have committed to encouraging collective bargaining contracts.
What are the recommendations in the agreement regarding wages in Hungary? The agreement includes recommendations for companies to raise pay in order to ensure real wage growth. It also states that parties should start talks on renewing the minimum wage system.
What is the goal of the new minimum wage agreement in Hungary? The goal is to achieve real wage growth and provide fair compensation for workers in Hungary.
When will the new minimum wage in Hungary be implemented? The specific implementation date for the new minimum wage in Hungary is not mentioned in the source article. It is advisable to refer to official government announcements or news sources for the latest information on the implementation timeline.