Ministry of Finance, Statistical Service

Latest Figures: Average Monthly Earnings of Employees by Quarter, 3rd Quarter 2012

According to the preliminary estimations of the Statistical Service, the average gross monthly earnings of employees during the third quarter of 2012 amounted to €1.912 (males €2.081 and females €1.717).

In comparison with the third quarter of 2011, an increase of 1,1% was recorded in the average monthly earnings of employees (males 0,7% and females 2,0%). The corresponding increase observed during the third quarter of 2011 was 1,9%. The payment of the Cost of Living Allowance (C.O.L.A.) on the gross earnings of employees, amounted to 1,70% as from January 2012 and 1,27% as from July 2012. Starting from January 2012, however, the C.O.L.A. is not paid to employees of the broad public sector.

In comparison with the second quarter of 2012 (seasonally adjusted data) there was a marginal decrease of -0,3% in the average monthly earnings of employees (males -0,7% and females 0,1%). The corresponding percentage change observed during the third quarter of 2011 was 0,4%.

It should be noted that the deductions to the earnings of employees in the broad public sector, which were implemented starting from the last quarter of 2011, do not affect the gross salary of employees but only their net income. Consequently, while these deductions reduce the disposable income of employees, they are not reflected in the fluctuation of gross earnings and the figures above.



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