The Histadrut and the coordinating bureau of economic organizations, representing all private employers in Israel, have signed an agreement granting salaried workers a seven percent wage increase to make up for an erosion in real incomes due to the lag between cost of living increases and the actual rate of inflation.
An increase of between 1,100 and 1,500 Shekels (about $23) is to be paid with July salaries due on August I, with the balance to make up the seven percent increase to follow next month. The seven percent agreement was a compromise between the nine percent demanded by the Histadrut and the six percent the employers were originally prepared to pay. Cost of living increases are paid at the rate of between 70 and 80 percent of inflation.
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