Average gross monthly earnings up 1.7%

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Average gross monthly earnings of Cyprus employees during the second quarter of 2020 increased by 1.7% to €1,925 from €1,893 during the same period last year, according to provisional figures.

However, seasonally adjusted average gross monthly earnings during Q2 2020 declined 0.5% to €2,004 compared to Q1 2020 (€2,013).

There was still a pay gap between male and female workers, although women’s wages did increase by a higher margin.

The average gross monthly earnings of male employees during Q2 2020 is estimated at €2,044 while female employees earned €1,773.

Compared to Q2 2019, the average gross monthly earnings of male employees remained stable while female employees recorded an increase of 3.7%.

Table            
Gender Average monthly earnings (€)   Percentage Change (%)
Unadjusted Seasonally adjusted   To the same quarter of the previous year (unadjusted earnings) To the previous quarter (seasonally adjusted earnings)
Total          
2nd Quarter 2020 1.925 2.004   1,7 -0,5
1st Quarter 2020 1.945 2.013   2,6 0,8
2nd Quarter 2019 1.893 1.973   1,4 0,7
           
Males          
2nd Quarter 2020 2.044 2.116   0,0 -1,7
1st Quarter 2020 2.081 2.153   2,3 0,6
2nd Quarter 2019 2.044 2.117   0,2 0,8
           
Females          
2nd Quarter 2020 1.773 1.861   3,7 1,1
1st Quarter 2020 1.778 1.841   2,9 0,9
2nd Quarter 2019 1.711 1.800   3,1 0,7
                       

Due to the rounding of earnings, the calculation of the change may differ from the percentage change presented in the table.

Average monthly earnings of employees include the basic salary, the cost of living allowance, earnings for overtime, the Holiday Fund, any other allowances received by employees during the reference period and payments in arrears.

The average is calculated by dividing the total gross earnings before any deductions for compulsory social security contributions, by the total number of employees who received remuneration.