Israeli Salaried Workers Enjoy Rising Incomes - High-Tech Sector Flourishes

The latest data released by the Central Bureau of Statistics paints a promising picture for salaried workers in Israel. According to the bureau's report, the average salary for a salaried position in June stood at NIS 13,267, marking a noteworthy 6% increase compared to the same month in the previous year.

Breaking down the numbers by industry sectors, it becomes evident that the financial sector leads the way, with an average monthly gross salary of NIS 21,271. Non-financial companies follow closely behind, offering an average of NIS 14,008 per month. Government employees earn an average of NIS 14,793, while those in the private non-profit sector receive NIS 7,332 per month. Households offer an average monthly salary of NIS 6,560.

However, the standout performer in June 2023 was the high-tech sector, where employees enjoyed an average monthly gross salary of NIS 29,480. This marked an impressive 8.9% increase compared to the same month the previous year.

In terms of job numbers, the high-tech sector also showed robust growth, boasting 397.7 thousand salaried positions. This was a 2.4% increase from June 2022, showcasing the sector's resilience and demand for skilled professionals.

Israel's overall job market also exhibited positive trends. The total number of salaried positions in June 2023 reached 4.062 million, representing a 1.5% increase compared to the same month in 2022 and a 1% rise from May 2023.

However, it's worth noting that these encouraging figures are tempered by a concerning trend. The Long-Term Moving Average (LMS) indicates a gradual decrease in the number of salaried jobs. During the April-June 2023 period, salaried job numbers experienced a 2.2% decrease year-on-year, contrasting with an earlier increase of 0.8% from January to March 2023.

These statistics underscore the dynamic nature of Israel's job market, where the high-tech sector shines as a beacon of growth and prosperity, while other sectors experience varying degrees of stability and change. The Central Bureau of Statistics will continue to monitor these trends as the year unfolds, providing valuable insights into Israel's evolving employment landscape.