The gross average wage fell in the third quarter of 2007 by 1% compared with the second quarter, to NIS 7,835 per month. In September, the average wage was lower still at NIS 7,789, a drop of NIS 195 in three months. Furthermore, trend indicators point to an annualized 3.1% drop in wages.
The number of employed persons rose 7% in the third quarter to 2.72 million, according to the Central Bureau of Statistics.
The sharpest fall in the average wage was felt in the finance, insurance and banking sector.
The leaders in terms of highest salaries remain Israel Electric Corporation (IEC) employees, with average salaries of NIS 18,679 per month. In second place with monthly wages of NIS 14,199, were employees in the finance, insurance and banking sector.
Published by Globes [online], Israel business news - www.globes.co.il - on December 6, 2007
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