According to the “net salary” of Masab (Bank Clearing Center), which manages the central system for transferring payments in Israel, in January there was an increase of about 16,000 people in the number of salary recipients in the economy, but on the other hand the volume of payments decreased by NIS 278 million , And the net salary decreased by about 1.6% and stood at about NIS 7,238 per employee on average, compared to about NIS 7,353 last December.
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The average net salary for April 2020 was NIS 7,286. In February 2020, which is the last month without the effects of the corona crisis on the Israeli economy, the average net salary was about 7,270. The average net salary in January 2020 was about NIS 7,027
However, it should be remembered that the average wage is higher than the median wage, because the high-wage earners ‘pull’ the average upwards, and the wage received by most workers in the economy is lower than that.. We asked for the median wage data and we will add the data when it is received.
The number of salary recipients for January is 3.43 million Israelis, the highest figure since the outbreak of the corona crisis and the restrictions imposed on economic activity, but still 6% lower than in January 2020, when the number of salary recipients was 3.64 million. The figure for January 2021 is 15% higher than the low recorded in April, when wage payments were transferred to only 2.98 million Israelis (an increase of about 450,000 people since the bottom of March 2020). However, the number of salary recipients in January 2021 is about 215,000 lower than the number of salary recipients for March 2020.
The volume of salary payments for January decreased by 1.1% to NIS 24.9 billion, compared with NIS 25.1 billion paid for the December salary, ie a decrease of NIS 278 million. The effect of the corona continues to be felt when if in March 2020 wage payments in the amount of NIS 25.5 billion were transferred, in April last year the volume of wage payments fell to about NIS 21.75 billion. In January 2020, the amount of wage payments reached NIS 25.640 billion, a figure 3% higher than the volume of wage payments in January this year.
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