High-tech Crisis? Number of employees increased in May by 4,000 - Wages decreased by 3%

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by Ifi Reporter Category:Hitech Aug 4, 2022

Despite the crisis in the high-tech sector, the number of employees in the industry actually increased in May 2022 by about 4,000 employees compared to April 2022 - this is according to the data on the scope of salaried jobs published by the Central Bureau of Statistics. The data are administrative and based on real data reported to the National Insurance.
According to the Central Bureau of Statistics, after a slight decrease in the number of jobs in March 2022, the number of jobs in May amounted to 383 thousand jobs - an increase of 1% compared to April 2022 and an increase of 11.8% compared to the data of May 2021. This is a record in the number of employees in high-tech so far. The surprising increase in the number of jobs occurs precisely at a time when waves of layoffs began in the industry against the background of the declines in the financial markets.
However, the salary in high-tech continues the downward trend, and dropped in May to an average salary of NIS 26,878,000 per month, compared to an average salary of NIS 27,684,000 per month. For comparison, in February the average salary in high-tech crossed the NIS 30,000 mark for the first time and reached NIS 30,049 a month.
Inflationary pressures in recent months have raised fears that there will also be a sharp jump in the average wage in the economy. The CBS data indicates that at this stage there are no unusual wage pressures. Thus, the average wage in the economy in May 2022 dropped to NIS 11,753 per month - a decrease of 2.3% compared to April 2022. This figure shows a continuation of the decrease in the average wage that began already in March 2022, when the wage reached The average to a record of NIS 12,668 per month.
When you neutralize various seasonal effects from these data, you find that the average wage is still increasing, but at a relatively slow pace - and the fears of high wage increases due to price increases are not being realized as of now.

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