Annual Change 5.3%
According to preliminary data, the average gross monthly compensation of employees in the third quarter of 2022 is estimated at €2,069 compared to €1,965 in the third quarter of 2021, an increase of 5.3%. It should be noted that, in the first, second and third quarters of 2021, the Special Plans of the Ministry of Labour and Social Insurance to deal with the Covid-19 pandemic were in place, resulting in a reduction in average gross monthly earnings, since the amount taken into account is the earnings paid by the employer and does not include any amount paid as an allowance by the Ministry of Labour and Social Insurance.
Average gross earnings corrected for seasonal variations in the third quarter of 2022 are estimated at €2,187 and compared to the second quarter of 2022 there is an increase of 0.7%.
Note: From Q1 2022 onwards, data are preliminary.
Average gross monthly earnings for men in the third quarter of 2022 are estimated at €2,217 and for women at €1,884. Compared to the third quarter of 2021, average monthly earnings for men and women increased by 5.1% and 5.4% respectively. [/TD] [/TR] [TR] [TD]
Unadjusted
[/TD] [TD]Seasonally adjusted
[/TD] [TD]With the corresponding quarter of the previous year year (earnings without correction)
[/TD] [/TD] [TD]With the previous quarter (seasonally adjusted earnings)
[/TD] [/TD] [/TR] [TR] [TD]Total
[/TD] [TD] [/TD] [TD] [/TD] [TD] [/TD] [TD] [/TD] [/TR] [TR] [TD]Q3 2022
[/TD] [TD]2.069
[/TD] [TD]2.187
[/TD] [TD]5.3
[/TD] [TD]0.7
[/TD] [/TR] [TR] [TD]2nd Quarter 2022
[/TD] [TD]2.081
[/TD] [TD]2.173
[/TD] [TD]7.4
[/TD] [TD]1.1
[/TD] [/TR] [TR] [TD]3rd Quarter 2021
[/TD] [TD]1.965
[/TD] [TD]2.073
[/TD] [TD]2.9
[/TD] [TD]2.4
[/TD] [/TD] [/TR] [TR] [TD]3rd Quarter 2020
[/TD] [TD]1.909
[/TD] [TD]2.016
[/TD] [TD]2.1
[/TD] [TD]2,7
[/TD] [/TR] [TR] [TD]Men
[/TD] [TD] [/TD] [TD] [/TD] [TD] [/TD] [TD] [/TD] [/TR] [TR] [TD]3rd Quarter 2022
[/TD] [TD]2.217
[/TD] [TD]2.343
[/TD] [TD]5.1
[/TD] [TD]0.7
[/TD] [/TR] [TR] [TD]2nd Quarter 2022
[/TD] [TD]2.239
[/TD] [TD]2.325
[/TD] [TD]6.5
[/TD] [TD]1.0
[/TD] [/TR] [TR] [TD]3rd Quarter 2021
[/TD] [TD]2.110
[/TD] [TD]2.224
[/TD] [TD]3.2
[/TD] [TD]2.0
[/TD] [/TD] [/TR] [TR] [TD]3rd Quarter 2020
[/TD] [TD]2.045
[/TD] [TD]2.156
[/TD] [TD]1.6
[/TD] [TD]4,1
[/TD] [/TR] [TR] [TD]Women
[/TD] [TD] [/TD] [TD] [/TD] [TD] [/TD] [TD] [/TD] [/TR] [TR] [TD]3rd Quarter 2022
[/TD] [TD]1.884
[/TD] [TD]1.994
[/TD] [TD]5.4
[/TD] [TD]0.3
[/TD] [/TD] [/TR] [TR] [TD]2nd Quarter 2022
[/TD] [TD]1.889
[/TD] [TD]1.988
[/TD] [TD]8.7
[/TD] [TD]1.4
[/TD] [/TD] [/TR] [TR] [TD]3rd Quarter 2021
[/TD] [TD]1.788
[/TD] [TD]1.887
[/TD] [TD]2.7
[/TD] [TD]2.9
[/TD] [/TR] [TR] [TD]3rd Quarter 2020
[/TD] [TD]1.741
[/TD] [TD]1.841
[/TD] [TD]2.6
[/TD] [TD]0.9
[/TD] [/TR][/TABLE]
Note: Due to rounding of earnings, the calculation of the change may differ from the percentage change shown in the table.
Methodological information:
- Identity
Average monthly remuneration is calculated by dividing total gross remuneration before deducting any contributions to compulsory social security funds by the total number of employees who received such remuneration. The source of the data is the file of the Social Security Services. The results are published on a quarterly basis. The calculation of average monthly earnings for the reference quarter is based on the first two months of the quarter.
- Data coverage
All economic activities based on the Statistical Classification of Economic Activities in the Community (NACE Rev. 2), except Sector T: Activities of households as employers and Sector U: Activities of NPISHs
All employees registered in the Social Security Institution File are covered. Excludes persons with earnings less than the threshold defined by Statistics Canada as an indication of persons who were not in regular employment during the reference period (e.g. persons who received only some retroactive payment, persons who worked very few hours, etc.). The minimum allowable earnings threshold is revised each year, depending on the level of the minimum wage according to the Minimum Wage Decree.
- Extraordinary methodological adjustment
The calculations include, regardless of the level of their earnings, those employees who participated in the Special Plans of the Ministry of Labour and Social Insurance under the Support Measures for Employees to deal with the Covid-19 pandemic, from April 2020 to October 2021.
- Definitions
The Average Monthly Remuneration of employees includes the basic salary, the indexed allowance, overtime pay, the Leave Fund, any allowances received by employees during the reporting period, as well as retroactive payments.
The extraordinary contributions of private sector employees (2012-2016) and of officials and employees of the state service and the wider public sector (1/9/2011-31/12/2016) and the reductions in the remuneration of officials and employees of the state service and the wider public sector (from 01/12/2012) do not affect the gross salary but the disposable income of employees. Therefore, they are not reflected in the above figures.
It is clarified that, with regard to employees who participated in the Special Plans of the Ministry of Labour and Social Insurance under the Support Measures for Employees in response to the Covid-19 pandemic, the amount taken into account is the remuneration paid by the employer and does not include any amount paid as an allowance by the Ministry of Labour and Social Insurance.
The Average Monthly Earnings, Adjusted for Seasonal Variations, are the average monthly earnings of employees, after removing the effect of the seasonal factor from the data. Special statistical methods shall be used to calculate the seasonally adjusted figures. Seasonally adjusted data are used to compare data for a particular period of time with other periods, such as the immediately preceding quarter, i.e. where the seasonality factor affects the data.
The Percentage Change - Comparison with the corresponding quarter of the previous year, is the percentage change in average monthly earnings, comparing the data for a particular quarter with the corresponding quarter of the previous year. Because the comparison is made between corresponding periods of different years, there is no need to use seasonally adjusted data in the comparison, since the seasonal factor is the same for the periods being compared.
The Percentage Change - Comparison with previous quarter (Earnings adjusted for seasonal variations) is the percentage change in average monthly earnings comparing the data for a given quarter with the immediately preceding quarter. Due to the fact that the seasonal factor is different between two consecutive quarters, it is necessary to use the seasonally adjusted average monthly earnings data in the calculation of the percentage change.
- Data availability
Data are published in the online database of the Statistical Office CYSTAT-DB. Data are available from the first quarter of 2003.
For more information:
Statistical Service Portal, under Labour Costs and Earnings
CYSTAT-DB (Database)
Predefined Tables (Excel)
The Predefined Tables in Excel format include data up to Q4 2021. For data from Q1 2022 onwards, the update is done only in the CYSTAT-DB Database.
Contact
Fani Lagoux: Tel:+35722602115, Tel. Postal: plagou@cystat.mof.gov.cy
(MB/IK)
Contents of this article including associated images are belongs PIO
Views & opinions expressed are those of the author and/or PIO
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