Cyprus - Wage & Salaries





Cyprus: Wage & Salaries

Mnemonic YPEWS.ICYP
Unit EUR, SA
Adjustments Seasonally Adjusted
Quarterly 0.05 %
Data 2019 Q2 1,955
2019 Q1 1,956

Series Information

Source Statistical Service of the Republic of Cyprus (CYSTAT)
Release Average monthly earnings of employees by quarter
Frequency Quarterly
Start Date 3/31/2003
End Date 6/30/2019

Cyprus: Labor

Reference Last Previous Units Frequency
Labor Force 2019 Q2 447,364 448,369 #, NSA Quarterly
Labor Force Employment 2019 Q2 418,374 409,117 #, NSA Quarterly
Total Employment 2019 Q2 418,374 409,117 #, NSA Quarterly
Unemployment 2019 Q2 28,989 39,252 #, NSA Quarterly
Unemployment Rate 2019 Q2 6.5 8.8 %, NSA Quarterly
Wage & Salaries 2019 Q2 1,955 1,956 EUR, SA Quarterly
Agriculture Employment 2017 21,761 22,277 # Annual

Release Information

Average monthly earnings (basic salary, cost of living allowance, overtime, etc.) before compulsory deductions, based on the Social Insurance Register, in euros.  National for Cyprus, quarterly from 2004.

Data are available by sex and in original and seasonally adjusted forms.

Data are based on the Social Insurance Register and cover employees in all sectors for whom social security contributions have been paid by the employer, excluding (a) those employed in private households (domestic servants), and (b) persons with remuneration indicating that no regular work has been performed during the reference period (e.g. persons who received arrear payments only, persons who worked for a limited number of hours, etc.). The minimum amount of earnings acceptable in order to be included in the data is decided by the Statistical Service of Cyprus and it is revised every year, based on the average level of earnings.

Average monthly earnings of employees include the basic salary, the cost of living allowance, earnings for overtime, the Holiday Fund, any other allowances received by employees during the reference period and payments in arrears. The average is calculated by dividing the total gross earnings before any deductions for compulsory social security contributions, by the total number of employees who received remuneration.

Old method: The Holiday Fund is allocated to the period it is paid by employers.

New method (applied from March 29, 2013, with revisions to past periods): The Holiday Fund is allocated to the quarters in which leave is taken.  Under this method, an employee on holiday in August is included in the calculation of average monthly earnings for August.

Data are subject to revisions, usually to one prior quarter, or to four quarters.

As of March 29, 2013, past periods were benchmarked to up-to-date registers from the Social Insurance Services Department.