In January 2024, the average salary in Israel decreased by 527 shekels (3.92%) compared to December 2023, totaling 13,171 shekels at current prices. The average salary in constant prices, after neutralizing inflation, also decreased by 459 shekels to 11,238 shekels during the same period. Despite this decrease, the total number of employees in Israel increased by 0.5% in January, reaching 3.906 million people, which is 25% less than January 2023.
In the high-tech sector in Israel, the average salary decreased by 2,047 shekels (6.36%) compared to December 2023 and amounted to 30,126 shekels per month. However, despite this decrease in salaries, the total number of employees in the high-tech sector increased by over one thousand people in January. This increase was primarily due to new hires and transfers within existing companies.
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The Central Bureau of Statistics reported that the average salary in Israel decreased by about $795 (or about NIS 488) per person from December last year until January this year due to inflation adjustments.
Despite this decrease in salaries among all employees across various sectors including high-tech industry specifically did not affect much as they remained stable with no significant changes observed.
However what stands out is how many more people were employed throughout Israel during the month of January compared to last year with only slight growth of about half a percent but still significant considering it’s a large country like Israel.
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