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The average gross monthly earnings of employees in Cyprus rose by 1% in the fourth quarter of 2017 making it the highest rise in five years, the Cyprus Statistical Service (Cystat) said.
According to Cystat data, gross monthly earnings were in negative territory for three years starting from Q1 of 2013 due to the post-bailout recession. The rise recorded in Q4 of 2017 was the highest since Q4 2012.
According to preliminary data, the average gross earnings of employees amounted to €2,169 in Q4 compared with €2,149, in Q4 of 2016. Based on seasonally adjusted data, average monthly earnings in Q4 2017 are estimated at €1,892 compared to €1,885 in the third quarter of 2017 recording an increase of 0.4%.
Men's gross average monthly earnings reached €2,313 in Q4 registering an increase of 0.5%, compared with 2016.
Women's gross average monthly earnings increased by an annual 1.2% in Q4 amounting to €1,998, compared with €1,793 in Q4 2016.
