The Israeli Central Bureau of Statistics (CBS) published worrying figures on Monday on salary developments in August 2024. The average monthly salary fell for the third consecutive month, standing at 13,376 shekels (€3,350), or an decrease of 220 shekels (€55) compared to July.
Although salaries increased by 4% over one year, this increase is largely neutralized by inflation. In real terms, purchasing power increased by only 0.4% compared to the previous year.
The high-tech sector remains the best paid with an average salary of 30,100 shekels (€7,525) per month, up 4% over one year. Employees in this sector, which represent 10% of the country's employees, are mainly concentrated in:
La R&D : 33.300 shekels (8.325€)
Programming and IT consulting: 31,600 shekels (7,900€)
Manufacturing of electronic equipment: 28,500 shekels (7,125€)
The other best paid sectors are:
Energy and waste treatment: 23,000 shekels (€5,750)
Financial services and insurance: 20,300 shekels (€5,075)
Industry: 18,700 shekels (4,675€)
The number of employees in high-tech fell slightly by 0.5% compared to July, but remains up 0.5% year-on-year, with around 400,300 employees.
