The average wage in Israel saw a significant increase of nearly 10% in December 2024, rising from NIS 13,068 in November to NIS 14,434, marking a new all-time high. Calculated in US dollars over 12 months, this amounts to $48,166 annually.
The average annual salary in the US is $63,795, although this figure varies from state to state.
The average salary for full-time workers in the UK in 2023 was £42,210, or $52,189. In France, in 2022, it was €39,300 or $40,546. In Germany, it is projected to be €54,000 annually in 2025, or $55,712.
In Spain, the annual average income in 2021 was €31,155, or $32,141. In Poland, in 2024, the average annual salary was $21,840. In Russia in 2024, the average annual income was only $5,690.
This is only the second time the average wage in Israel has surpassed the monthly NIS 14,000 threshold, with the previous occurrence in March 2024 when it reached NIS 14,038. The data, released by the Central Bureau of Statistics, is based on an estimate from the communications company Bezeq regarding the average wage and the number of jobs in the economy.
The average salary in high-tech in Israel fell below $100,346.92 annually in November, after the average salary in high-tech reached an all-time high of nearly $120,416.31 in March 2024.
The number of Israeli salaried jobs also continues to recover, reaching 4.059 million jobs in December 2024, an increase of 1.1% from 4.013 million in November and a return to the levels of early 2023 and early 2024. This follows the fighting in the north, which had led to a low of only 3.944 million jobs in October.
Israel’s population reached 10 million in December 2024.
More good news (sort of): tax collections in January are projected to reach approximately NIS 58 billion ($16.17 billion), surpassing the previous record of NIS 42 billion ($11.71 billion) set three years ago. This significant increase is attributed to recent tax hikes, substantial dividend distributions in December reported in January, and the impact of the ceasefire.
Another key factor behind the sharp rise in tax collections for January is the VAT rate increase from 17% to 18% beginning January 1. This led to a surge in consumer spending in December, particularly on high-cost items such as cars, electrical appliances, luxury goods, and furniture, including complete kitchen sets, as well as costly services like apartment painting. Additionally, the real estate market saw a rush of transactions, with buyers and sellers hurrying to finalize deals on apartments and various buildings before the tax hike took effect.
