Israel’s Central Bureau of Statistics (CBS) reports that the average national salary in May 2016 was NIS 9,507 with the number of recorded working Israelis reportedly 3.479 million. The figure is based on preliminary reports received from Bituach Leumi payments for that time period.
Of all jobs in Israel in May, 34% were in the economic sectors where the average salary is higher than the national average while 66% were in areas of the economic sectors that are lower than national average. From March to May 2016, that number increased by 1.2% in annual terms, following an increase of 2.4% in annually terms in December 2015 to February 2016.
The nominal average salary rose 2.1% from March to May 2016, following an increase of 3% in annual terms in December 2015-February 2016. Real average wages rose from March to May 2016 by 2.7% in annual terms, following an increase of 4% in annual terms in December 2015-February 2016.
(YWN – Israel Desk, Jerusalem)
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3 Responses
NIS 9500 (about $2,500) is a good weekly salary but a terrible annual salary. No one at YWN understands that salary should be expressed in currency/time period, e.g, dollars/year or NIS/month, not just dollars, NIS, drachmas, or whatever.
#1- It’s per month, i.e., $30,000 per year. While you are technically correct, anyone even remotely familiar with Israel will understand that the article is referring to the average monthly salary in Israel.
The report reflects a drop of some 250 NIS in the average monthly salary. It remains to be seen if this is a temporary dip or a trend.
In global terms, Israel still ranks among the top 20 countries with the highest average salaries in the world but it also still lags far behind the USA.
#1 Stats are a funny thing. It can be presented in many ways. You have to compare apples to apples.
First, the Israeli numbers represent monthly, not annual salaries. It is an average INDIVIDUAL salary, as opposed to how the U.S. reports HOUSEHOLD incomes, which are generally more than one wage earner.
Last year, the U.S. has a median family income of just over $51,000, which includes all income, not just salaries. Estimating 11/2 salaries per household salaries in Israel, without any other income, that would come to an annual median household income of just over $45,000. Only $6,000 per year below the U.S.
Some of the most significant expenses people in the U.S., far more than Israelis, is tuition and health insurance.
Israelis standard of living is among the worlds highest. Israelis, overall, lack for nothing with a significantly higher quality of life.