Ministry of Finance, Statistical Service



31/03/2010
Latest Figures: Average Monthly Earnings of Employees by Quarter, 4th quarter 2009

According to the preliminary estimations of the Statistical Service, the average monthly earnings of employees during the fourth quarter of 2009 amounted to €2154 (males €2335 and females €1931).

In comparison with the fourth quarter of 2008, an increase of 2,2% was recorded in the average monthly earnings of employees (males 1,5% and females 3,4%). The corresponding increase observed during the fourth quarter of 2008 was 7,6%, indicating that the rate of increase of the level of earnings in Cyprus is lower in 2009 compared to 2008. This is partly due to the Cost of Living Allowance (C.O.L.A.) on the gross earnings of employees, which resulted in the decrease of salaries by -1,44% as from July 2009.

In comparison with the third quarter of 2009 (seasonally adjusted data) there was a marginal increase of 0,7% in the average monthly earnings of employees (males 0,4% and females 1,1%).The corresponding increase observed during the fourth quarter of 2008 was 1,2%.












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