Cyprus males earn over EUR 2,000 a month

Men in Cyprus earn more than EUR 2,000 per month on average according to the Statistical Services’ preliminary estimates for the second quarter, while women earn 25% less at EUR 1,636.
The average monthly earnings of employees of both sexes during the second quarter of 2010 amounted to EUR 1,860.
The data include the highly paid public sector, which accounts for some 20% of all employment.
The Statistical Service said that compared with the second quarter of 2009, an increase of 1.4% was recorded, with male earnings rising by 0.9% and female earnings rising by 2.7%.
The corresponding increase in the second quarter of 2009 was 4.8%. Thus, the pace of increase has slowed.
However, this may be linked to a lower inflation rate in 2010 than in 2009.
Wage indexation applies to around 50% of the workforce, according to Central Bank estimates.
On a seasonally adjusted basis, average monthly earnings fell by 0.4%, largely because of the timing of Easter, which affected 14th salary payments for public-sector workers.

Fiona Mullen
www.sapientaeconomics.com