The average monthly salary in Israel in current prices in July 2015 totaled NIS 9,877, down 1.9%, compared with NIS 10,068 in June, the Central Bureau of Statistics reported today.
Trend data, which eliminate seasonal and one-time effects, indicate that wages are stagnating, ending the upward trend since the beginning of the year. The average salary in trend data in July was NIS 9,561, compared with NIS 9,560 in June. The Ministry of Finance said that the higher than expected rise in pay was one of the main reasons why tax revenues had exceeded the forecasts.
In May-July, the average salary rose by 0.7% in annualized prices, following a 2.7% annualized increase in February-April.
Employment totaled 3,414,000, based on a preliminary analysis of sample of employers' reports of jobs and salaries to the National Insurance Institute on Form 102, and on other administrative sources.
Published by Globes [online], Israel business news - www.globes-online.com - on October 8, 2015
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