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Salaries rising faster than inflation in Israel

Average salary in Israel credit: Shutterstock Rita Kapitulski
Average salary in Israel credit: Shutterstock Rita Kapitulski
3 Aug, 2023 15:09
שלח תגובה במיילIdan Eretz

The average salary in Israel in June 2023 was NIS 13,295, 6.3% higher than in June 2022, the Central Bureau of Statistics reports.

The average salary in Israel in June 2023 was NIS 13,295, 6.3% higher than in June 2022, the Central Bureau of Statistics reports. With annual inflation at 4.2% over the same period, salaries are rising considerably faster than inflation.

The number of salaried jobs for Israeli workers also increased by 1.5% in June 2023 compared with June 2022, and by 1.1% compared with May 2023.

The trend data, calculated as an average for March-May 2023, also indicate an increase in the average salary, but a decrease of 1.2% in the number of salaried jobs on an annual basis.

In tech industry salaries are being eroded

In the tech industry, the average salary in May was NIS 28,031, up 4.2% from May 2022. But over this period inflation was 4.6% meaning that salaries in real terms were being eroded.

However, the number of salaried jobs rose 1.9% (even higher than the rise in the number of jobs in the economy), and it is possible that the higher number of people in more junior positions, brought down the average salary. Overall 9.9% of jobs in the economy are in the tech industry, and this remains stable at about 10% in recent months.

Published by Globes, Israel business news - en.globes.co.il - on August 3, 2023.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2023.

Average salary in Israel credit: Shutterstock Rita Kapitulski
Average salary in Israel credit: Shutterstock Rita Kapitulski
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