Cyprus Mail

Wage reductions continues well in the third quarter

By Stelios Orphanides

Monthly employee earnings continued their downward path for the eleventh consecutive quarter in July to September, reaching their lowest level since 2009, the statistical service said, citing preliminary figures.

Monthly earnings fell an annual 0.9 per cent to €1,738 in the third quarter, Cystat said in a statement on its website on Tuesday. In the third quarter, earnings fell a seasonally adjusted 0.4 per cent, compared to the third quarter, to €1,873.

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