Average wage keeps ahead of inflation

The average gross monthly pay of Israeli employees rose 6.7% to NIS 13,309 in October 2024 in comparison with October 2023.

The average gross monthly pay of Israeli employees rose 6.7% to NIS 13,309 in October 2024 in comparison with October 2023, according a flash estimate of the Central Bureau of Statistics. This does however represent a slight fall in comparison with the final figures for September 2024, when the average wage in Israel reached NIS 13,522 monthly. October is generally one of the weakest months for wages.

The average wage in September 2024 was 1.2% higher in real terms than in September 2023, meaning that the average wage is rising faster than the rate of inflation. The number of jobs rose to 4.009 million in September, but fell to 3.948 million in October.

In high tech, average monthly pay rose to NIS 31,237 in September, 6% more than in September 2023. The number of jobs in high tech remained stable at 10% of the total number of jobs in the economy.

Published by Globes, Israel business news - en.globes.co.il - on December 4, 2024.

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