Israel's Average Salary Drops in July Amid Seasonal Correction

Israel's average salary saw a significant seasonal decrease of 4.3% in July, falling from 15,218 shekels in June to 14,561 shekels. This decline is likely a correction following a substantial 6.7% increase observed in June, according to preliminary estimates from the Central Bureau of Statistics.

In contrast, the high-tech sector experienced a rise in average salaries. In June, the average salary in high-tech increased by 2.3% to 36,584 shekels, marking the second consecutive monthly rise. Over the past two months, high-tech salaries have climbed by 4.9%, recovering from a sharp 9.4% drop in March. This represents an 11.7% increase compared to June of the previous year, a surprising figure given the slowdown in tech hiring.

While specific July data for high-tech is not yet available, the overall economic trend suggests a potential decrease in average high-tech salaries for July, given their significant impact on the national average.

The number of salaried positions for Israeli workers continued its recovery from the war, increasing by 1.1% from June to July, reaching 4.23 million. This figure is also a 0.3% increase compared to July of the previous year.