In December 2024, the average monthly wage in Israel was NIS 14,334, up 4.4% from December 2023, the Central Bureau of Statistics reports, according to preliminary figures. Inflation was 3.2% over the same period so that wages are increasing faster than prices are rising, and the average monthly wage has reached a record high.
This is a particularly dramatic increase compared with November 2024, when the average wage was only NIS 13,068. However, December is typically considered a strong month in wage data, and November 2024 was considered weak compared with Novembers in previous years. Now, wage data is catching up, creating an especially large gap between the months. This figure also comes after several months of decline in the average wage, when in September 2024 the average wage was NIS 13,505.
According to the preliminary figures for December 2024, the number of salaried employees in Israel was 4,059,000 in Israel, up 1.1% from 4,013,000 in November 2024, and substantially higher than the 3,888,000 in December 2023.
In the tech sector, where the latest data refers to November 2024, the average monthly wage was NIS 29,736, up just 1% from November 2023, below the inflation rate of 3.4% over this period.
It is possible that wages in the tech sector were also unusually low in November and rose sharply in December, as with the average wage in the economy, so that next month will see an increase here too. The number of salaried jobs in the tech industry increased by 1.1% during that period, and as of November there were 395,300 tech jobs in Israel, which was about 10% of all jobs in the economy that month.
Published by Globes, Israel business news – en.globes.co.il – on February 4, 2025.
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