Slight deceleration
צילום: עטא עוויסאת
Average monthly manufacturing wage reached NIS 10,800 this year
The new figure represents a number 40% higher than the market average. Nevertheless, 2007's third quarter saw this growth begin to slow
The average monthly wage in the manufacturing industry grew 3.5-4% in 2007, reaching 10,800 NIS (about $2,778) per month. These figures were published by the Manufacturers Association of Israel and represent a figure 40% higher than the average wage in the Israeli market.
In the third quarter of 2007, the growth rate of 2.5% constituted a significant drop from the first and second quarter rates of 4.5%.
Association Economics Division President Ruby Ginel said that the deceleration in practical salary growth should be attributed to inflation and some degree of erosion of the minimum wage.
At the same time, the third quarter saw a moderate 2% growth in manufacturing output after three quarters in which output growth stood around 9.5%, which greatly limited the ability of corporations to continue raising wages as they previously had.
