Private Israeli salaries are steadily climbing up, but the country’s thriving tech sector is still outpacing other industries, according to data published Thursday by the Israel Central Bureau of Statistics.
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With a population of around 8.8 million people, the Israeli job market in 2017 was made up of 3,577,000 jobs. The average nominal monthly wage in the Israeli tech sector was NIS 21,542 (around $6,000) in 2017, a 2.2% increase from 2016, according to bureau data.
In comparison, the market average was NIS 10,120, up 3.3% from 2016.
The tech sector accounted for 8.4% of jobs in the private sector in 2017, around 302,500 people, according to bureau data, a 4.3% increase from 2016.
Israel is currently suffering from a severe tech talent crunch, driven by an ever-growing interest from multinationals looking to leverage local expertise. Industry giants such as Microsoft, Intel, IBM, and Apple employ most of the country’s tech workers, with newcomers such as Amazon contributing to the rising wages in an attempt to court employees.