The average monthly wage in Israel increased last November by 9.5% on an annual basis. The number of jobs decreased by 4.9% compared to the same month in 2022.
Many employees were laid off or placed on unpaid leave due to the war and the slowdown in business activity. The Israeli Hapoalim Bank warned investors and policy makers against being overly optimistic after data it saw as positive. The bank expects inflation to rise by 2.8% over the next year, and excludes that interest rates will decline in the near term.