Average gross monthly earnings up 5%

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The average gross monthly earnings of Cyprus employees increased by €100 in the second quarter of 2022, according to provisional data published by the Statistical Service.

Wages reached €2,081, compared to €1,982 in 2021, recording an increase of 5%.

Although the salary increase is way behind almost double-digit inflation.

The average gross monthly earnings of men during Q2 are estimated at €2,248; for women, it’s a lower €1,879.

Compared to Q2 2021, male and female employees’ average gross monthly earnings recorded an increase of 4.8% and 5.3%, respectively.

Gross monthly earnings during Q2, seasonally adjusted, are estimated at €2,163 and compared to the previous quarter, they increased by 0.6%.

During the first two quarters of 2021, special government support schemes were in place for dealing with the pandemic, resulting in reduced average earnings, as the amount taken into account is the income paid by the employer and does not include allowances.