Cyprus average monthly earnings increase by 6.2 per cent

The Cyprus Statistical Service (Cystat) on Tuesday released a report showing an increase in the average gross monthly earnings of employees during the fourth quarter of 2023, when compared to the same period in 2022.

According to the report, the average gross monthly earnings were estimated to stand at €2,693 during the fourth quarter of 2023, marking a noteworthy rise from €2,535 in the fourth quarter of 2022, reflecting a 6.2 per cent increase.

Moreover, adjusted for seasonal variations, the average gross monthly earnings for the fourth quarter of 2023 are estimated at €2,402, indicating a 1.6 per cent increase compared to the third quarter of the same year.

Breaking down the data by gender, the average gross monthly earnings for men during the fourth quarter of 2023 are estimated at €2,884.

For women, average gross monthly earnings stood at €2,452.

In comparison to the fourth quarter of 2022, the average monthly earnings for men and women have increased by 6.7 per cent and 5.5 per cent, respectively.