Bethel Finance: Average salary rose 3.8% in 2011

www.bethelfinance.com
The average national gross salary was NIS 8,735 in 2011, 3.8% higher, in current prices, than in 2011. The average salary rose by an annualized 3.9% in the fourth quarter, after rising by 4.1% in the third quarter.

"The average gross salary of Israeli employees rose to NIS 9,055 in December from NIS 8,586 in November, and the average salary of foreign workers rose to NIS 4,863 from NIS 4,713. The average salary of all employees rose to NIS 8,865 in December from NIS 8,406 in November" according with Peres Sailam from Bethel Finance Ltd.

In constant figures, the increase in the average national salary slowed to an annualized 2.5% in fourth quarter from 3.4% in the preceding quarter.

The increase in number of salaried employees slowed to an annualized 1.3% in the fourth quarter, in trend figures, from 1.7% in the preceding quarter. There were 3.045,600 Israeli employees in December, 10,000 more than in November, and 92,500 legal foreign workers, for a total workforce of 3.18 million.

In 2011, the non-financial sector was the biggest sector in terms of jobs, with 1.98 million employees, 65.3% of all employees, and the average salary was NIS 9,010. The public sector was in second place, with 548,700 employees, 18.1% of the total, and with an average salary of NIS 9,335. The financial sector was the smallest sector, with 97,400 employees, 3.2% of the total, but first in terms of pay, with an average salary of NIS 16,340.

The household sector had 208,800 employees in 2011, 6.9% of the total, with an average salary of NIS 4,044, and the non-profit sector had 193,800 employees, 6.4% of the total, with an average salary of NIS 5,468.

For the year as a whole, Israel Electric Corporation (IEC) (TASE: ELEC.B22) and Mekorot National Water Company employees topped the salary rankings, with an average gross salary of NIS 21,913 per month.