Average salary in Israel up 6.4% in two years
Israel’s Ministry of Finance chief economist Shira Greenberg has issued a study of salaries in Israel through the Covid pandemic. The examination uncovered that the common salary rose by 6.4% in real phrases above two decades, just after taking into account the impact of Covid on the mix of work.

The report claimed, “In annual conditions this rise demonstrates a true yearly rise of 3.2% when compared with an common annual increase of 2% amongst 2011 and 2019, that is to say the rise in income was at a rather superior level for the duration of the past two a long time.”




Linked Content articles




Israel’s common income rose 2.3% in 2021







In accordance to the Central Bureau of Figures the typical month-to-month income in 2021 was NIS 11,773, up 2.3% from 2020.

The Ministry of Finance has many tips as to why salaries rose during the Covid disaster. “World wide desire for tech companies soon after the outbreak of the Covid pandemic led to income rises in Israel’s high-tech sector.”

Another explanation supplied was in outcome a criticism of the government’s furlough payments scheme for these on unpaid leave. The Ministry of Finance thinks that the momentary drop in the supply of employees, because of to the government’s coverage on coping with the spread of the virus, and worries about staff members not seeking to be infected, also contributed to income hikes.

The salary rises have been not throughout the board, the Ministry of Finance uncovered that the rises have been decrease in the catering and lodging sector even though in leisure, leisure and art, salaries fell.

Even however 3.2% is a handsome yearly rise in salary by the requirements of latest several years, it is still down below the 3.5% that the Customer Selling price Index (CPI) has risen over the past 12 months. In 2020, the CPI fell by .7%.

Revealed by Globes, Israel business news – en.globes.co.il – on March 27, 2022.

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


