|Source||Statistical Service of the Republic of Cyprus (CYSTAT)|
|Release||Average monthly earnings of employees by quarter|
|Labor Force||2021 Q1||453,638||456,101||#, NSA||Quarterly|
|Labor Force Employment||2021 Q1||414,668||419,424||#, NSA||Quarterly|
|Total Employment||2021 Q1||414,668||419,424||#, NSA||Quarterly|
|Unemployment||2021 Q1||38,970||36,677||#, NSA||Quarterly|
|Unemployment Rate||2021 Q1||8.6||8||%, NSA||Quarterly|
|Wage & Salaries||2020 Q4||2,017||2,021||EUR, SA||Quarterly|
For Cyprus, average monthly earnings (sum of basic salary, cost of living allowance, overtime, etc.) before compulsory deductions, based on the Social Insurance Register, in euros.
Data are presented 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 29 March 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 for one to four prior quarters. Revisions to the NSA results are typically less than 1%.
As of 29 March 2013, a new method was applied, and past periods were benchmarked to up-to-date registers from the Social Insurance Services Department.
As of 29 December 2015 (results for 2015Q3), the full history was revised.
As of 28 September 2017 (results for 2017Q2), some prior periods were revised by up to 28%.