2023-08-04 21:02:49
The number of jobs also increased by 1.5% in June 2023 compared to June 2022, and by 1.1% compared to May 2023
The average salary in Israel in June 2023 was NIS 13,295, 6.3 percent higher than in June 2022, the Central Bureau of Statistics reports. With annual inflation of 4.2% over the same period, wages are rising significantly faster than inflation.
The number of jobs also increased by 1.5% in June 2023 compared to June 2022, and by 1.1% compared to May 2023.
The data also indicates an increase in the average wage, but a 1.2% drop in the number of salaried jobs on an annual basis.
In the high-tech sector, the average salary in May was 28,031 shekels, up 4.2% from May 2022. Over this period, inflation was 4.6%, which means wages in real terms have been eroded.
However, the number of salaried jobs increased by 1.9%. Additionally, 9.9% of jobs in the economy are in the tech industry, and this has remained steady at around 10% in recent months.
Citibank analysts on Thursday joined warnings from Morgan Stanley, the Bank of Israel, S&P and Moody’s, lowering growth forecasts and warning of Israel’s credit rating downgrade, following the vote on judicial reform last week. Thousands of citizens plan to leave the country, fearing for the economy.
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