CYPRUS: Monthly earnings down 3.8% in 3Q 2014

Average gross monthly earnings fell by 3.8% on a yearly basis during the third quarter of 2014, the statistical service Cystat reported in preliminary estimates, with employee average earnings amounting to EUR 1,758 (males EUR 1,900 and females EUR 1,596).

Compared to the third quarter of 2013, this showed a fall of 3.8% in the average monthly earnings of employees (males -4.5% and females -2.8%), bigger than the -2.6% drop recorded in the third quarter of 2013.
Compared with the second quarter of 2014 (seasonally adjusted data) there was a fall of 1.0% in the average monthly earnings of employees (males -1.2% and females -0.9%), in the third quarter. The corresponding percentage change observed during the third quarter of 2013 was -0.6%.
Temporary contributions of employees of the private sector and officials and government employees and the broad public sector and deductions in earnings of officials and employees of the government and the broad public sector do not affect their gross salary of employees but only their net income. As a result they are not reflected in the published figures, Cystat noted.