40 per cent of employees earned under €1,500 in the first three quarters of 2024

There was a 5.4 per cent increase in average gross monthly earnings for Cyprus employees in the third quarter of 2024, reaching €2,351, compared to €2,230 in the same period of 2023, according to the state statistical service.

Citing preliminary data, the service also reported a 1.3 per cent rise in seasonally adjusted gross monthly earnings when compared to the second quarter of 2024.

In the third quarter of 2024, the average gross monthly earnings for men were estimated at €2,526, compared to €2,133 for women.

In comparison to the third quarter of 2023, the average monthly earnings for men increased by 5.4 per cent, while women’s earnings saw a slightly higher rise of 5.5 per cent, according to the Statistical Service.

Regarding the distribution of earnings among both Cypriot and non-Cypriot employees for the first three quarters of 2024, 40 per cent of employees earned under €1,500, while 39 per cent earned between €1,500 and €2,999.

Additionally, 12 per cent earned between €3,000 and €4,499, 6 per cent earned between €4,500 and €5,999, and 4 per cent earned more than €6,000.