Average Salary in Israel Drops By Over 3%
Written by: Aaron Katsman | February 6, 2009
As if we need more proof that Israel is quickly falling into the global economic mess, more data released today shows that this is indeed happening. According to Globes: “The national average gross salary fell to NIS 7,790 in November 2008 from NIS 7,812, the Central Bureau of Statistics reported today. The average salary fell by an annualized 3.5% in September-November, while the number of Israeli employees rose by an annualized 1.2% in the same period to 2.8 million. The number of wage-earners including Palestinians and foreign workers was 2.91 million. Although the effects of the recession are already showing up in the salary data, they are not yet seen in the Central Bureau of Statistics’ employment figures. A big wave of layoffs began in December.”
With the headlines full of company announced layoffs, this looks like a number that may continue dropping quickly.
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