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Average Salary Drops

September 7, 2009. Globes: Yael Gruntman

The average gross salary was 0.9% lower, in fixed prices, in the first half of 2009 than in the second half of 2008, the Central Bureau of Statistics reported today. The average salary of the 2.79 million employees in Israel in the first half of 2009 was NIS 8,128.

There were 1.4% fewer salaried employees in the first half of 2009 than in the second half of 2008

The average salary of Israel Electric Corporation (IEC) (TASE: ELEC.B22) and Mekorot National Water Company employees was 2.5% less in the first half than in the second half of last year, the largest drop by any sector, although it still topped the salary charts at NIS 20,086. This is also the smallest sector in the economy, with 16,500 employees.

There were 504,000 employees in the business services sector in the first half, 391,900 employees in the commercial sector, and 389,800 education employees. These are the three largest sectors.

The average gross salary in the business services sector was NIS 8,504 in the first half, and there is a wide difference in salaries. The average salary of R&D employees was NIS 20,295. R&D employees account for 7.1% of all business services sector employees. The average salary of job agency and human resources company employees - 16.3% of all business services sector employees - is NIS 3,023.

Manufacturing employment saw the largest decline in jobs, with 3.8% fewer employees in the first half of 2009 than in the second half of 2008. On the other hand, the number of financial sector employees rose by 2.4% over the same period.

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