Average gross monthly earnings of employees in Cyprus increased 2.5 percent to EUR 1,898 in the first quarter of 2019 from EUR 1,852 a year earlier, following a downwardly revised 2.7 percent gain in the last four months of 2018. Wages for male employees rose 2.3 percent to EUR 2,031 while wages for females went up 2.6 percent to EUR 1,735. Compared to the previous quarter, seasonally adjusted wages increased 0.5 percent to EUR 1,956. Wage Growth in Cyprus averaged 1.91 percent from 2004 until 2019, reaching an all time high of 7.10 percent in the third quarter of 2008 and a record low of -3.40 percent in the fourth quarter of 2013.
Wage Growth in Cyprus is expected to be 2.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Wage Growth in Cyprus to stand at 2.30 in 12 months time. In the long-term, the Cyprus Wage Growth is projected to trend around 2.60 percent in 2020, according to our econometric models.