Israel's unemployment rate down despite slowdown

Unemployment
Unemployment

Unemployment fell from 6.3% in September to 5.7% in October.

The unemployment rate is falling. In stark contrast to macroeconomic data indicating a severe slowdown in the economy, the Central Bureau of Statistics reported today that the unemployment rate among those age 15 and higher had dropped from 6.3% in September to 5.7% in October, a 0.6% decrease.

At the same time, the rate of participation in the labor force fell from 64.2% in September to 64% in October. The rate among men was unchanged at 69.5%, while the rate among women slid from 59.2% in September to 58.7% in October.

The Central Bureau of Statistics also reported that the number of employed was up 0.4% to 3.572 million in October. The number of full-time employees (working at least 35 hours a week) rose by 45,000 (1.6%) in October, while the number of part-time employees (working less than 35 hours a week) fell by 33,000 (4%). The percentage of employees usually working full-time rose from 77.0% in September to 78% in October.

The Central Bureau of Statistics also reported today a 6.5% rise in proceeds of the marketing chains in August-October 2014, following a 5.5% increase in May-July. Proceeds of the supermarket chains were up 3.5%, following a 3% rise in May-July.

Published by Globes [online], Israel business news - www.globes-online.com - on November 24, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

Unemployment
Unemployment
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