The average gross monthly salary was NIS 9,297 in August 2013, in current prices, the Central Bureau of Statistics reported today. Trend figures indicate that the rise in the average salary in real terms slowed to an annualized 1% in June-August from 1.6% in March-May.
The salary in real terms (fixed prices) is the nominal salary after deducting for inflation and the employees power purchasing index.
In seasonally-adjusted figures, the average salary in real terms rose by 1.7% in January-August, half the total growth rate of 3.4% in the past nine years from January 2005 through August 2013. However, in original figures, the average salary fell by 1.3% over the same period.
In August, mining and quarrying employees (oil and gas production and Israel Chemicals Ltd. (TASE: ICL)) had the highest average gross salary at NIS 21,968, followed by Israel Electric Corporation (IEC) (TASE: ELEC.B22) and Mekorot National Water Company employees, with NIS 19,306. At the other end of the scale, waiters had an average gross salary of NIS 4,434.
Published by Globes [online], Israel business news - www.globes-online.com - on November 7, 2013
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