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Average wage down 4% in October

ינואר 9, 2007. Globes: Zeev Klein

The average gross salary of Israel’s 2.57 million employees fell by 4% in October 2006 to NIS 7,375, after rising 1.6% during the third quarter, the Central Bureau of Statistics reports. The average national salary rose by 3.1% in the first quarter but fell by 0.9% in the second.

Trend data for September-October indicate a 2.4% annualized increase in the labor force and an annualized growth rate of 4.2% in the average national salary.

26% of wage-earners, 930,00 people, earned an average gross monthly salary of NIS 2,537, 34% less than the minimum wage and 66% less than the average national salary. 57% of wage-earners, 1.45 million persons, earned an average salary of NIS 10,499, and an additional group of 187,000 persons earned an average salary of NIS 7,177. 99,000 people with two jobs earned an average salary of NIS 7,671.

A breakdown by sector shows that the highest average salary was in the electricity and water sector: Israel Electric Corporation (IEC) and Mekorot National Water Company employees earned an average salary of NIS 17,237, 2.3 times the average national salary.

There were 66,300 legal foreign workers, whose average salary was NIS 4,190, and 16,200 Palestinian workers in Israel in October. Israel’s total workforce, including foreign workers and Palestinians was 2.65 million, with an average salary of NIS 7,264.

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