CYPRUS: Average gross monthly earnings up 3.1% in Q3 2018

Average gross monthly earnings of Cypriot employees increased 3.1% to €1,827 in the third quarter of 2018 compared to €1,772 at Q3 2017, according to official data.

Cystat said “the data referring to Q3 2018, includes payments to employees of the Cyprus Cooperative Bank following its closure, therefore the increase is higher than expected”.

Average monthly earnings during Q3 2018, seasonally adjusted, are estimated at €1,950 compared to €1,920 in the previous quarter, an increase of 1.6%.

The average monthly earnings of male employees during Q3 2018 reached €1,960 while for female employees it was a lower €1,666 – a pay gap of 15%.

Compared to Q3 2017, the average monthly earnings of male employees increased 28% and 3.3% for women employees.