The national average gross salary fell to NIS 7,790 in November 2008 from NIS 7,812, the Central Bureau of Statistics reported today. The average salary fell by an annualized 3.5% in September-November, while the number of Israeli employees rose by an annualized 1.2% in the same period to 2.8 million. The number of wage-earners including Palestinians and foreign workers was 2.91 million.
Although the effects of the recession are already showing up in the salary data, they are not yet seen in the Central Bureau of Statistics' employment figures. A big wave of layoffs began in December.
As nearly always, Israel Electric Corporation (IEC) (TASE: ELEC.B22) and Mekorot National Water Company employees topped the salary rankings, with an average salary of NIS 18,787 in November. Finance sector employees came in second with an average salary of NIS 12,938, followed by public sector employees with an average salary of NIS 11,586.
Also as nearly always, catering and accommodation sector employees came in at the bottom of the salary rankings, with an average salary of NIS 3,736 in November, while the average salary of agricultural employees was NIS 5,269.
Published by Globes [online], Israel business news - www.globes-online.com - on February 5, 2009
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