Monthly earnings in Cyprus rose 3.3% in Q1

Monthly earnings of employees in Cyprus increased by 3.3% in the first quarter of 2020 on an annual basis, provisional data shows.

“Based on provisional data, the average gross monthly earnings of employees during the first quarter of 2020, amounted to €1,956 compared to €1,894 during the first quarter of 2019, an increase of 3.3% is observed,” CyStat said.

Seasonally adjusted average gross monthly earnings in Q1, 2020, are estimated at €2,019, compared to Q4 2019 it’s a quarterly increase of 1%.

Average gross monthly earnings of male employees during the first three months are estimated at €2,101 while female employees received €1,780 – a disparity of 18.7%.

Compared to the first quarter of 2019, the average gross monthly earnings of male workers recorded an increase of 3.6% while female employees saw a lower increase of 2.8%.

Average monthly earnings of employees include the basic salary, the cost of living allowance, overtime, any other allowances received by employees.