In December 2024, the average monthly wage in Israel reached NIS 14,334, reflecting a 4.4% increase compared to December 2023, according to preliminary data from the Central Bureau of Statistics. During the same period, inflation stood at 3.2%, meaning wages grew faster than prices, setting a new record for the average wage.

This is a particularly dramatic increase compared to November 2024, when the average wage was NIS 13,068. However, December typically sees stronger wage data, and November 2024 was relatively weak when compared to previous Novembers. This comes after several months of wage declines, with the average wage at NIS 13,505 in September 2024.

The preliminary figures for December 2024 also show that the number of salaried employees in Israel grew to 4,059,000, a 1.1% rise from November 2024, when the figure stood at 4,013,000. This marks a substantial increase from December 2023, when there were 3,888,000 salaried employees.

In the tech sector, the average monthly wage as of November 2024 was NIS 29,736, reflecting a 1% increase from November 2023. This is below the inflation rate of 3.4% for the same period.

Bear in mind that the monthly average is skewed by the tech sector, who earn much more than the national average. With 10% of the workforce working in hi-tech, earning approximately 30,000 NIS, this means that for non hi-tech employees, the average monthly salary is actually 12,593 NIS.

It’s possible that wages in the tech sector were unusually low in November and experienced a sharp rise in December, similar to the overall wage trend in the economy. This suggests that next month’s data may also show an uptick in the tech sector. The number of salaried jobs in the tech industry rose by 1.1% during this period, reaching 395,300 jobs in November, which accounted for about 10% of all jobs in Israel that month.

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