According to the Central Bureau of Statistics report, the average wage in Israel was NIS 13,683 in July 2024, an increase of 6.7% over July 2023.
In July 2024, the average wage in Israel was NIS 13,683, up 6.7% from July 2023, according to the Central Bureau of Statistics. The inflation rate was 3.2% during the same period, meaning that wages are rising faster than prices.
The wage rise is supported by unemployment data released by the Central Bureau of Statistics, which shows the unemployment rate at a 50-year low of 2.8%. The labor market remains tight due to a huge increase in government spending due to the war.
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In the technology sector, the average wage in June 2024 was NIS 32,215, an increase of 8.1% compared to June 2023, which is significantly higher than the inflation rate. The number of jobs in the technology sector reached 401,300 jobs, representing 9.9% of the total jobs in the economy, an increase of 0.3% compared to June 2023.
This article was published in Globes, Israeli Business News – en.globes.co.il – on September 4, 2024.
© Copyright Globes Publisher Itonut (1983) Ltd., 2024.
Average salary in Israel Image source: Shutterstock Rita Kapitulski