Average gross monthly earnings of employees in Cyprus increased 3.3 percent year-on-year to EUR 1,956 in the first quarter of 2020, accelerating from a downwardly revised 2.2 percent rise in the previous period. It was the biggest annual gain since the second quarter of 2018. Wages for male employees climbed 3.6 percent to EUR 2,101; and those for females went up 2.8 percent to EUR 1,780. Compared to the previous quarter, seasonally adjusted wages advanced 1 percent to EUR 2,019.
Wage Growth in Cyprus averaged 1.95 percent from 2004 until 2020, 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 July of 2020.
Wage Growth in Cyprus is expected to be 1.90 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 2.40 in 12 months time. In the long-term, the Cyprus Wage Growth is projected to trend around 2.60 percent in 2021, according to our econometric models.