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Average salary in Israel is up…and down

Bar ChartHaaretz is reporting that the average gross salary of Israe’ls 2.9 million salaried workers was NIS 8,172 a month as of May, 2010. That was an impressive increase of 4.5% compared to May 2009 but it was 0.8% less than the average for April 2010. The numbers are from the Central Statistics Bureau in Israel.

The highest average salary was among employees of the Israel Electric Corporation and the Mekorot water utility, at NIS 20,484 a month.

Employees at financial companies earned an average of NIS 16,911. Public administration workers averaged NIS 12,273, and industrial employees received NIS 11,332 per month.

Teachers and social workers remain near the bottom, at NIS 6,428 and NIS 5,312 respectively. Agriculture work pays slightly better than social work at NIS 5,524/month. At the very bottom: food and hospitality: NIS 3,965 per month on average.

If all this makes you want to take out a loan or go into overdraft – well, you know my motto: don’t. Now a rabbi has backed me up.

Ramat Gan’s Rabbi Yaakov Ariel says that those who do not have a credit balance in their bank should not overdraw.  His ruling is complex, drawing on the religious concept of a “transaction permit.” The full details are on the YNet website.

His conclusion: “Precisely in modern times, when it is credit that makes the economy’s wheels spin, we should not trample our moral values of charity and interest prohibition.”

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Posted in In the News, Israel. Tagged with , .

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