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Average wage jumps

Employment Service office credit: Israel Employment Service
Employment Service office credit: Israel Employment Service
7 Jan, 2024 10:33
שלח תגובה במיילAharon Katz

According to a flash estimate by the Central Bureau of Statistics, the average wage in Israel was 10% higher in November 2023 than a year earlier.

According to the flash estimate released by the Central Bureau of Statistics on Thursday, the average wage in Israel in November 2023 was NIS 12,651 gross monthly, 10% higher than in November 2022.

In October 2023, the average wage was NIS 12,492, 6% higher than in October 2022. Excluding inflation, the real rise in the average wage was 2.2%.

The number of jobs in the Israeli economy fell by 1.2% in October. The war that broke out on October 7 led to a decline in the supply of jobs, but the average wage continued to rise despite this.

The number of salaried jobs fell further in November, and was 6.6% lower than in November 2022.

In the high-tech sector, the average wage was NIS 29,626 in October 2023, 9.2% higher than in October 2022. The number of jobs in the sector declined b0.5% in comparison with the previous month.

The rise in the average wage can partly be explained by the high number of people placed on leave without pay because of the war, mainly people on lower wages, leading to a rise in the average.

Published by Globes, Israel business news - en.globes.co.il - on January 7, 2024.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2024.

Employment Service office credit: Israel Employment Service
Employment Service office credit: Israel Employment Service
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