Average gross monthly earnings of employees in Cyprus declined by 3.3 percent year-on-year to EUR 1,880 in the first quarter of 2021, after a downwardly revised 0.3 percent rise in the previous period. It was the first decrease in wages since the last quarter of 2016 and the strongest since the second quarter of 2014. Wages for female employees fell 4.3 percent to EUR 1,702, while those for males decreased 2.5 percent to EUR 2,029. Compared to the previous quarter, seasonally adjusted wages went down by 1.7 percent to EUR 1,961. source: Statistical Service of the Republic of Cyprus
Wage Growth in Cyprus averaged 1.83 percent from 2004 until 2021, 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. This page provides - Cyprus Wage Growth- actual values, historical data, forecast, chart, statistics, economic calendar and news. Cyprus Wage Growth - data, historical chart, forecasts and calendar of releases - was last updated on September of 2021.
Wage Growth in Cyprus is expected to be 0.90 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 1.50 in 12 months time. In the long-term, the Cyprus Wage Growth is projected to trend around 2.00 percent in 2022, according to our econometric models.