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Israel’s Ministry of Finance main economist Shira Greenberg has issued a survey of salaries in Israel during the Covid pandemic. The analysis uncovered that the average salary rose by 6.4% in authentic terms above two decades, right after using into account the influence of Covid on the mix of work.

The report reported, “In yearly conditions this increase displays a serious annual increase of 3.2% as opposed with an common once-a-year rise of 2% in between 2011 and 2019, that is to say the increase in income was at a fairly higher price all through the previous two years.”




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Israel’s typical income rose 2.3% in 2021







According to the Central Bureau of Stats the normal every month income in 2021 was NIS 11,773, up 2.3% from 2020.

The Ministry of Finance has many ideas as to why salaries rose through the Covid crisis. “World wide demand for tech solutions immediately after the outbreak of the Covid pandemic led to income rises in Israel’s high-tech sector.”

A further motive provided was in outcome a criticism of the government’s furlough payments plan for all those on unpaid go away. The Ministry of Finance believes that the short term slide in the source of workforce, owing to the government’s coverage on coping with the unfold of the virus, and concerns about employees not seeking to be infected, also contributed to wage hikes.

The wage rises were being not across the board, the Ministry of Finance identified that the rises ended up reduced in the catering and lodging sector though in entertainment, leisure and art, salaries fell.

Even nevertheless 3.2% is a handsome once-a-year rise in salary by the criteria of new a long time, it is still beneath the 3.5% that the Purchaser Price Index (CPI) has risen over the earlier 12 months. In 2020, the CPI fell by .7%.

Released by Globes, Israel company information – en.globes.co.il – on March 27, 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.