Average gross monthly earnings of employees in Cyprus grew by 5.3 percent year-on-year to EUR 2.069 in the third quarter of 2022, compared to 2.9 percent rise in the same period a year earlier. Wages for female employees increased by 5.4 percent to EUR 1.884, while those for male employees rose by 5.1 percent on the year to EUR 2.217. Compared to the previous quarter, seasonally adjusted wages rose by 0.7 percent. source: Statistical Service of the Republic of Cyprus

Wage Growth in Cyprus averaged 2.12 percent from 2004 until 2022, reaching an all time high of 8.30 percent in the first quarter of 2022 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 January of 2023.

Wage Growth in Cyprus is expected to be 4.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Cyprus Wage Growth is projected to trend around 2.30 percent in 2024 and 2.00 percent in 2025, according to our econometric models.

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Cyprus Wage Growth



Calendar GMT Actual Previous Consensus TEForecast
2022-09-28 09:35 AM Q2 5% 8.3% 5.5%
2022-12-29 10:00 AM Q3 5.3% 7.4% 6.1%
2023-03-31 09:30 AM Q4 5.3% 5.7%


Related Last Previous Unit Reference
Unemployed Persons 32868.00 32903.00 Sep 2022
Employed Persons 431.70 417.40 Thousand Dec 2021
Job Vacancies 8703.00 9882.00 Nov 2022
Wage Growth 5.30 5.00 percent Sep 2022
Labor Force Participation Rate 65.40 65.10 percent Sep 2022

Cyprus Wage Growth
In Cyprus, Wage Growth measures the year-on-year change in average monthly earnings of employees.
Actual Previous Highest Lowest Dates Unit Frequency
5.30 5.00 8.30 -3.40 2004 - 2022 percent Quarterly
NSA

News Stream
Cyprus Wages Rise 5.3% YoY in Q3
Average gross monthly earnings of employees in Cyprus grew by 5.3 percent year-on-year to EUR 2.069 in the third quarter of 2022, compared to 2.9 percent rise in the same period a year earlier. Wages for female employees increased by 5.4 percent to EUR 1.884, while those for male employees rose by 5.1 percent on the year to EUR 2.217. Compared to the previous quarter, seasonally adjusted wages rose by 0.7 percent.
2022-12-29
Cyprus Wages Grow 5% YoY in Q2
Average gross monthly earnings of employees in Cyprus grew by 5 percent year-on-year to EUR 2.081 compared to EUR 1.982 during the second quarter of 2021. Wages for female employees increased by 5.3 percent to EUR 1.879, while those for male employees rose by 4.8 percent on the year to EUR 2.248. During the first and second quarters of 2021, average gross monthly earnings were lower because any amount paid as an allowance was excluded, as part of the Special Schemes of the Ministry of Labour and Social Insurance for dealing with the pandemic. Compared to the previous quarter, seasonally adjusted wages rose by 0.6 percent.
2022-09-28
Cyprus Wage Growth Highest Since 2008
Average gross monthly earnings of employees in Cyprus grew by 6.8 year-on-year to EUR 2,019 in the first quarter of 2022, the steepest increase since Q3 of 2008, following an upwardly revised 6.5 percent rise in the previous quarter. Wages for female employees increased by 9 percent to EUR 1.856, while those for male employees rose by 5.1 percent on the year to EUR 2,150, . Compared to the previous quarter, seasonally adjusted wages rose by 1 percent.
2022-06-29