Employees’ average monthly earnings down by 3.8% in 3Q 2014

Employees’ average monthly earnings down by 3.8% in 3Q 2014

Employees` average gross monthly earnings fell by 3.8% on a yearly basis during the third quarter of 2014, Cyprus Statistical Service preliminary estimates published on Tuesday show.

According to the preliminary estimate average gross monthly earnings of employees during the third quarter of 2014 amounted to €1,758 (males €1,900 and females €1,596).

Compared to the third quarter of 2013, a fall of 3.8% was recorded in the average monthly earnings of employees (males -4.5% and females -2.8%).

The corresponding percentage change observed in the third quarter of 2013 was -2.6%.

In comparison with the second quarter of 2014 (seasonally adjusted data) there was a fall of 1.0% in the average monthly earnings of employees (males -1.2% and females -0.9%).

The corresponding percentage change observed during the third quarter of 2013 was -0.6%.

It is further noted that temporary contributions of employees of the private sector and officials and government employees and the broad public sector and deductions in earnings of officials and employees of the government and the broad public sector do not affect their gross salary of employees but only their net income.

As a result they are not reflected in the published figures.

CNA/EPH/GCH 2014
ENDS, CYPRUS NEWS AGENCY