Average industrial salary shot up 6.9% in first quarter 

The rise is attributed to longer working hours, a recovery 
in industrial activity, and higher productivity. 

Globes
Sharon Kedmi  
June 22, 2004
 
The average salary in industry grew by 6.9% in real terms in the 
first quarter of this year in comparison with the corresponding 
quarter last year, to an average monthly salary of NIS 9,603. 
This follows a rise of 4.1% in the final quarter of 2003, and 
of 3.2% in the third quarter of 2003. The figures were reported 
by Manufacturers Association statistics and economic analysis 
division director Nira Shamir. They are based on analysis of 
industrial salaries paid between January and March 2004. 

The highest average monthly salary was paid in the electronic 
communications equipment sector - NIS 18,567. The lowest was in 
the leather industry - NIS 4,770. 

Shamir says that the rise in salaries in real terms in the first 
quarter can be attributed to a number of main factors, among them 
a rise in hours worked per employee, a substantial rise in industrial 
activity, and a sharp rise, amounting to 7.5%, in industrial 
productivity. 

According to Shamir, unemployment is still the economy's main problem. 
She says that only through annual growth of 5-6% in the business 
sector will it be possible to reduce unemployment to below 10%.