The average gross national salary rose to NIS 9,447 in June 2012, after rising by an annualized 4.5% in trend figures during the second quarter, following a 3% annualized rise in the first quarter, the Central Bureau of Statistics reported today. Adjusted for inflation, the average salary rose by an annualized 3.3% during the second quarter after rising by an annualized 0.4% during the first quarter.
The banking and financial services sector had the largest increase in average salary, up by an annualized 8.6% in constant prices during the second quarter. The average salary in the transportation sector rose by an annualized 6.8%, the average salary in manufacturing rose by an annualized 5%, and the average salary in the construction industry rose by an annualized 4.2%. The average salary of Israel Electric Corporation (IEC) (TASE: ELEC.B22) and Mekorot National Water Company employees fell by an annualized 1.5% during the second quarter.
IEC and Mekorot employees top the salary rankings with an average gross salary of NIS 22,068 in June, once again passing the average salary of NIS 21,232 in the banking and financial services sector, and the average salary of NIS 20,661 in the R&D sector.
The average gross salary of employees of employment agencies was NIS 3,176 in June, reflecting both low salaries and the prevalence of part-time work. The average salary of accommodation and restaurant employees was NIS 3,583, and the average salary of cleaners and security guards was NIS 4,375.
The Central Bureau of Statistics also reported an annualized increase of 1.2% in the number of employees during the second quarter to 3.14 million persons. The number of employees in public administration, including welfare and health services rose by an annualized 4%, but the number of accommodation and restaurant employees fell by an annualized 1.7%.
Published by Globes [online], Israel business news - www.globes-online.com - on September 6, 2012
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