Average salary in Israel up 6.4% in two years
Israel’s Ministry of Finance chief economist Shira Greenberg has issued a survey of salaries in Israel in the course of the Covid pandemic. The investigation uncovered that the ordinary wage rose by 6.4% in authentic terms around two years, after getting into account the effect of Covid on the mix of careers.

The report explained, “In annual terms this rise demonstrates a true annual increase of 3.2% compared with an typical once-a-year increase of 2% concerning 2011 and 2019, that is to say the rise in salary was at a somewhat high charge throughout the past two years.”




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Israel’s average wage rose 2.3% in 2021







According to the Central Bureau of Figures the average monthly salary in 2021 was NIS 11,773, up 2.3% from 2020.

The Ministry of Finance has various solutions as to why salaries rose throughout the Covid disaster. “World-wide demand from customers for tech providers following the outbreak of the Covid pandemic led to salary rises in Israel’s significant-tech sector.”

An additional purpose made available was in influence a criticism of the government’s furlough payments scheme for those on unpaid depart. The Ministry of Finance believes that the temporary drop in the provide of workers, due to the government’s plan on coping with the unfold of the virus, and issues about employees not seeking to be contaminated, also contributed to salary hikes.

The wage rises were not throughout the board, the Ministry of Finance located that the rises had been decrease in the catering and lodging sector when in enjoyment, leisure and artwork, salaries fell.

Even although 3.2% is a handsome once-a-year increase in salary by the criteria of recent years, it is still below the 3.5% that the Consumer Price tag Index (CPI) has risen about the previous 12 months. In 2020, the CPI fell by .7%.

Posted by Globes, Israel enterprise information – en.globes.co.il – on March 27, 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.


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