The slowdown in salary increases in Israel continues: the Central Bureau of Statistics reported today that in August the average salary of a citizen employed in Israel was NIS 9,904. This is a 1.2% decline from the July average, NIS 10,023, and a 3% decline from the average salary in June, NIS 10,219.
Despite the decline in the last two months, the figures indicate that the trend of rising average employee salaries, in current prices, continues. In June-August 2015, the average salary rose 2.1% on an annualized basis, continuing the 3.1% annualized rise in March-May 2016.
It should be noted that average salary figures provide a distorted picture, since they are affected in a disproportionate manner by employees who receive very high salaries. The Central Bureau of Statistics does not publish the median salary, the amount "in the middle," which is higher than the salary of half of the employees and lower than the salary of the other half.
Nevertheless, in today's announcement, the Central Bureau of Statistics said that 65.6% (2.284 million) of Israeli employees are employed in sectors with average employee salaries that are lower than the overall average salary (as mentioned, NIS 9,904) and only 34.4% (1.197 million) are employed in sectors in which the average wage was higher than the overall figure.
Published by Globes [online], Israel business news - www.globes-online.com - on November 7, 2016
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