Insider Economy CyStat data: Employees earned less in 2018 than in 2010

CyStat data: Employees earned less in 2018 than in 2010

Employees earned less in 2018 than in 2010, data released by the Cyprus Statistical Service (CyStat), on Wednesday, show.

In a press release, CyStat says that according to the results of the Structure of Earnings Survey 2018, the total monthly earnings of full-time employees averaged at €1,837 (males €1,977 and females €1,676).

In comparison with the mean monthly earnings recorded in 2014, there was an increase of 5.1% (males 5.2% and females 5.0%).

“The level of monthly earnings of employees for the year 2018 (€1,837) is still lower than that observed in year 2010 (€1,890),” the press release reads.

The mean total annual earnings for full-time employees came up to €23,791 on average (males €25,618 and females €21,706).

In comparison with the mean annual earnings recorded in 2014, there was an increase of 5.2% (males 5.1% and females 5.3%). The level of annual earnings of employees for the year 2018 (€23,791) is still lower than that observed in year 2010 (€24,530).

“According to the results of the survey, the occupational category with the highest monthly and annual earnings for full-time employees, was category “1 – Managers”, with a monthly average of €5,697 and an annual average of €76.919,” CyStat says.

The categories where the lowest mean monthly and annual earnings for full-time employees were observed, were: a) category “9 – Elementary occupations”, with an average of €1,146 and €14,682 respectively and b) category “6 – Skilled agricultural, forestry and fishery workers”, with an average of €1,177 and €14,713 respectively, although it specifies that this concerned a very small sample of employees in this category for the specific survey.

According to CyStat, during 2018, the Economic Activity Section with the highest monthly and annual earnings for full-time employees was section “B – Mining and Quarrying” (a section with a small number of employees), with mean monthly earnings €3,225 and mean annual earnings €45,247. Section “K – Financial and Insurance Activities” follows, with €3,017 and €39,886 respectively.

The lowest mean monthly and annual earnings for full-time employees were observed in section “I – Accommodation and Food Service Activities”, with a monthly average of €1,229 and an annual average of €15,940.

In section “S – Other Service Activities”, the second lowest level was observed, with a monthly average of €1,285 and a yearly average of €16,096.

During 2018, the press release continues, the mean hourly earnings of employees were €10.78 for full-time employees and €8.08 for part-time employees. Full-time male employees received €11.33 while women received €10.15, on average. Part-time male employees received €7.99 and females €8.16. In comparison with 2014, an increase of 3.1% was recorded in the hourly earnings of full-time employees. The corresponding increase for part-time employees was 14.5%.

“The increase in the hourly earnings of part-time employees is mainly attributed to the large increase in the number of employees in the labour market overall and specifically in occupational categories such as, “Professionals” and “Technicians and associate professionals”,” the press release concludes.

(CNA)

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