The average salary per employee job in July was 11,004 in July, according to the Central Bureau of Statistics. This is an increase of 3.4% compared to July 2018. At constant prices (without considering the rise in the index), the wage in the economy rose by 2.9% compared with July last year, reaching NIS 10,389. In May-July, the average wage per employee post at current prices increased by 2.8% on an annual basis, following a 3.4% increase on an annual rate in February-April.
Wage rise data do not indicate strong economic growth. Analysts estimate that recent wage rises are being affected by stagnation in the number of jobs in the economy, which indicates a slowdown in economic activity.
The highest average wages were paid to employed persons in the information and communications industry. In July, wages in this sector included many high-tech companies, including NIS 22,122 per month. Second place came the financial services and insurance services industry with an average salary of NIS 20,153 per month. An analysis by the CBS shows that there are considerable wage gaps between those employed in the insurance industry and those employed in the financial services.
The average salary per employee post in the financial services industry is NIS 24,785, which is 23% higher than the average salary of the entire industry (NIS 20,153). In contrast, in insurance and pension funds and other auxiliary activities, the average salary per employee post comes to NIS 16,155, which is 19.8% lower than the average salary of the entire industry (as stated, NIS 20,153).