in November the average wage in the economy climbed again by 0.8% and reached 11,349

After months in which the average wage in the economy shrank, in November the average wage in the economy climbed again by 0.8% compared to October and reached 11,349 for Israeli workers - the Central Bureau of Statistics reports today (Thursday). The increase in the average wage in the economy coincides with a 1.3% increase in the number of jobs in the economy in November compared with October.
The increase in the average wage in parallel with the increase in the number of employees in the economy may herald the end of the anomaly in the economy in the corona years. During the closures in Corona, there was an artificial increase in the average wage in the economy to almost NIS 12,500 a month due to a decrease in the number of employees, since weak workers were fired. Therefore, compared to November 2020 - when the number of layoffs or employees in the IDF was high - the average wage actually decreased by 1.1%.
As a result, as more workers returned, the average wage returned to normal. This anomaly led, among other things, the government to freeze the various linkages in the economy to the average wage, for example various benefits, also in 2022.
Now, against the background of a recovery in the economy, the labor market is returning to its previous dimensions before the corona period with 3.82 employees in the economy, and at the same time the average wage is also climbing. However, the number of employee jobs is still relatively low relative to the employment potential of the economy growing due to natural growth.