Israel's average monthly salary falls sharply

The sharp fall in salary may be attributed to the return of more lower-paid workers who were furloughed during the COVID-19 pandemic as well as the slowdown in the tech sector.

 Illustration photo of the new 100 Israeli Shekel bill. December 31, 2017.  (photo credit: NATI SHOHAT/FLASH90)
Illustration photo of the new 100 Israeli Shekel bill. December 31, 2017.
(photo credit: NATI SHOHAT/FLASH90)

The average gross monthly salary in Israel fell to NIS 11,753 in May from NIS 12,026 in April, the Central Bureau of Statistics reports. The sharp fall may be due to more people in the workforce with low salaries who were furloughed during the Covid pandemic as well as the slowdown in the tech sector. The number of job vacancies in April rose by 1.1%, compared with April.

However, the average gross salary in Israel in April 2022 was 4.2% higher than in April 2021, when it was NIS 11,280. But taking into account inflation, net salaries in April 2022 remained virtually unchanged at NIS 10,565, compared with NIS 10,570 in April 2021.

Having fallen between March and April 2022, the average gross monthly salary in the tech sector fell again by a further 3% in May to NIS 26,878 from NIS 27,700 in April. Nevertheless, the average salary in Israel's tech sector in May 2022 was still up 8.3% from NIS 24,826 in May 2021. The tech sector accounts for 9.7% of Israel's salaried workforce.

In total, there were 3.941 million salaried employees in Israel in May 2022, up 10.1% from 3.58 million in May 2021.