The average real salary fell by an annualized 0.3% in November 2013-January 2014.
The Central Bureau of Statistics today reports that the average gross national salary fell by an annualized 0.3% in real terms in trend figures in November 2013-January 2014, after remaining unchanged in August-October, despite lower inflation.
Real salaries are falling because the average nominal salary rose by less than the inflation rate. The average gross salary rose by an annualized 0.8% in nominal terms in trend figures - less than the inflation rate.
The average gross salary rose by an annualized 2.5% in nominal terms in August-October 2013, boosting the average salary in real terms. The average gross national salary fell to NIS 9,077 in March from NIS 9,333 in December.
The largest drop in the average real salary was in the real estate sector, where the average salary fell by more than an annualized 12% in trend figures in November-January.
Published by Globes [online], Israel business news - www.globes-online.com - on April 7, 2014
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