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Average salary in Israel drops

February 7, 2010. Globes: Yossi Nissan

The average gross monthly salary of Israeli employees was NIS 7,875 in November 2009. Trend figures for September-November 2009 showed an annualized drop of 2.4% in constant prices, the Central Bureau of Statistics reported today.

As usual, Israel Electric Corporation (IEC) (TASE: ELEC.B22) and Mekorot National Water Company employees had the highest average salary, followed by the financial sector, public administration, manufacturing, and transportation.

The lowest average salary was in the catering and accommodations sector, and the second lowest average salary was in agriculture.

There were 2.93 million total salaried employees in November, 2.4% more than a year earlier, in trend figures. Business services had the largest number of employees, followed by the commercial sector. The electricity and water sector and agriculture sector had the smallest number of employees.

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