The average monthly salary of a salaried employee in the Israeli economy stood at NIS 11,004 in July, up 3.4% from July 2018 and down slightly from NIS 11,149 in June 2019, the Central Bureau of Statistics reports. Adjusted to fixed price terms (discounting the Consumer Price Index), the average July salary was up 2.9% in July 2019, compared with NIS 10,389 in July 2018, Trend with reference to Globes reports.
Between May and July 2019, the average salary rose 2.8% on an annualized basis, following a 3.4% rise between February and April 2019.
These figures do not necessarily reflect strong growth in the Israeli economy. Analysts believe they are partly influenced by stagnation in the number of jobs in the economy - data which could indicate a slowdown.
Israel's best paid employees are in the IT and communications where the average in salary in July was NIS 22,122. The second best sector was financial and insurance services with an average salary of NIS 20,153.