Israel's Average Salary Rises, But Job Growth Lags Behind Population
Translated & summarized from Cursorinfo by baba
Israel's average salary rose by 3.8% to 14,515 shekels before taxes in September, with real wage growth at 2.2% after inflation. However, job growth has stagnated and is not keeping pace with the population increase. Employment in the high-tech sector is also declining, now representing 9.5% of all jobs.
The story in 6 lines · by baba
- Average salary in Israel reached 14,515 shekels before taxes in September, up 3.8% year-over-year.
- Real wage growth in Israel was 2.2% in September after accounting for 1.6% inflation.
- The number of jobs for Israeli salaried employees increased by only 0.3% year-over-year.
- Employment in Israel's high-tech sector has declined by 0.6% annually.
- High-tech jobs now constitute 9.5% of all employment in Israel.
- Job growth is not keeping pace with Israel's population increase.
The average salary for salaried employees in Israel reached 14,515 shekels before taxes in September, a 3.8% increase year-over-year, according to preliminary data released by the Central Bureau of Statistics on November 4. After accounting for 1.6% annual inflation, the real wage growth stands at approximately 2.2%, indicating an increase in purchasing power. However, the number of available jobs has remained stagnant, and employment in the high-tech sector is declining.
When including foreign and Palestinian workers, the average gross salary in September was 14,156 shekels, a 3.5% rise from the previous year. Despite this, overall employment growth is minimal. The number of jobs for Israeli salaried employees was 4.102 million, a 1.3% decrease from August and only a 0.3% increase compared to September of last year. This growth rate falls significantly behind the country's population increase. Furthermore, the average salary in September was lower than summer figures.
The high-tech sector, which pays more than double the national average, saw an average salary of 33,478 shekels in August, a 3.3% annual increase. However, job positions in this sector decreased to 394,200, down 0.7% monthly and 0.6% annually. High-tech now accounts for 9.5% of all jobs in Israel, down from about 10% a few years ago.
