Cyprus monthly earnings top EUR 2,000 for first time

Monthly earnings in Cyprus topped EUR 2,000 for the first time in the fourth quarter of 2009, according to preliminary estimates of the Statistical Service.
The average monthly earnings of employees during the fourth quarter of 2009 were estimated at €2,154.
In the fourth quarter males earned €2,335 while females earned €1,931. The gap between men and women was thus 17.3%, down from 23.1% in the first quarter of 2004.
This broad average makes a large but unknown gap between salaries in the private sector and salaries in the public sector.
Compared with the fourth quarter of 2008, average monthly earnings of employees rose by of 2.2% (males 1.5% and females 3.4%).
In the fourth quarter of 2008 the increase was 7.6%, partly owing to the inflation-linked Cost of Living Allowance (COLA).
Deflation in the previous period meant that the gross earnings of employees actually declined by 1.44% in July 2009.
Compared with the previous quarter of 2009 and on a seasonally adjusted basis, 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%.