Israel's average monthly salary moves above NIS 10,000

salary slip

The biggest rise in salaries has been in high tech and real estate, the Central Bureau of Statistics reports.

The average monthly salary in Israel for an employee was NIS 10,021 in July in current prices, the Central Bureau of Statistics reports. The biggest rise was in the salaries of high tech and real estate employees.

The figures indicate that the trend of wage rises has been continuing, although at a slower rate than earlier in 2016. In May-July wages rose at an annual rate of 1.7% compared with a 3.3% annual rate during the three preceding months.

In current prices, the average salary for an employee rose 2.3% in May-July 2016 following a 3.2% rise in February-April 2016, on an annualized basis. The most prominent wage hikes were in real estate, IT and communications, commerce and auto mechanics.

In the real estate sector, the average monthly salary per employee, in current prices, rose 5.5% on an annualized basis in May-July 2016, continuing a 5.5% rise in the three preceding months. The average salary in this sector was NIS 10,566.

The highest average salary was in the IT and communications sectors, which encompass many of the employees of the high-tech industry, where the average salary was NIS 19,297 per month. Employee wages rose 4.4% on average in the past three months. In financial services, the average employee wage was NIS 18,998 and in water, electricity and sewage, the average wage was NIS 18,586 per month.

The average salary in government companies was NIS 18,149, while the average monthly salary for employees in government ministries was NIS 13,807.

Published by Globes [online], Israel business news - www.globes-online.com - on October 9, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

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