Average gross monthly earnings of employees in Cyprus increased 0.7 percent year-on-year to EUR 1,880 in the second quarter of 2019, following a downwardly revised 1.9 percent growth in the previous period. Wages for female employees led the gains (3.9 percent vs 2.5 percent in Q1), while those for males declined for the first time in three years (-1.2 percent vs 1.4 percent). Compared to the previous quarter, seasonally adjusted wages decreased 0.1 percent to EUR 1,955. Wage Growth in Cyprus averaged 1.90 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 1.50 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 2.00 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.