The Ministry of Industry, Trade and Labor reports that the labor market has stabilized, and improved, during the third quarter of 2009. A preliminary analysis of third quarter figures indicates that the average number of job positions per day has risen 40%, or 6,500 jobs, to 27,800 in the third quarter from 21,400 in the preceding quarter. The number of available jobs is still 37% less than in the corresponding quarter of 2008, however,
There has been a slight improvement in the jobs balance to 7,900 in the third quarter from 10,900 in the corresponding quarter.
Employers' expectations for the coming months have become more neutral, and even somewhat optimistic for the first time in a year, in view of changes in economic activity and the labor force.
Ministry of Industry Manpower Planning Authority director Benny Pfefferman said that most of the labor market variables tracked by the ministry showed improvement during the third quarter. The number of available jobs showed particular improvement. For now, labor market and products market variables indicate that the improvement in the labor market is consolidating.
Despite the favorable signs among some variables, including the labor balance, the number of available jobs, and expectations, compared with the boom years of 2004-08, are still very low. Pfefferman believes that the unemployment rate will therefore continue to rise through the fourth quarter, although more slowly than during the preceding quarters.
Published by Globes [online], Israel business news - www.globes-online.com - on September 14, 2009
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