The average monthly salary in Israel at the end of 2022 was NIS 12,120, up 2.8% from 2021, the Central Bureau of Statistics reports. However, adjusted for inflation the average salary would have been only NIS 10,858, down 1.5% compared with 2021.
However, in 2022 the labor force participation rate rose, as a considerable part of the workers with low labor productivity who were laid off due to Covid rejoined the workforce.
In 2022, the number of salaried jobs increased by 8.8% compared with 2021, to 3.94 million, with the return of workers with low labor productivity lowering the average wage.
In the tech sector, the average monthly salary for a salaried position in 2022 was NIS 27,860, up 5.4% compared with 2021. The number of jobs jumped dramatically by 10.1% compared with 2021, up to 384,900 jobs. The tech sector now accounts for 9.8% of all jobs in the economy, an increase from the 9.6% in 2021, but lower than the 10% recorded at its peak.
Published by Globes, Israel business news - en.globes.co.il - on March 2, 2023.
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