In February 2017, the Israel National Employment Service (INES) recorded the lowest unemployment level in the past 10 years, according to INES figures published today.
The seasonally adjusted number of jobseekers fell from 170,000 in January to 168,800 in February, a 0.8% decrease.
The downtrend in unemployment is continuing, despite the already low unemployment levels in the economy. The number of jobseekers is unprecedentedly low, both relative to the number of people employed and in absolute figures - the number is extremely low, despite population growth.
In comparison with previous years, the average number of jobseekers over the past three months averaged 169,700, down 9.4%, compared with the corresponding period in 2015-2016, when the average was 187,400, and down 18.3%, compared with the corresponding period in 2014-2015.
INES director Boaz Hirsch said, "The strong labor market is reflected in the constantly decreasing number of people coming to the INES offices every month. INES regards the labor market's strength and the high demand for workers as a social opportunity, and is using it in order to integrate groups with many employment barriers in the labor market."
Published by Globes [online], Israel Business News - www.globes-online.com - on March 15, 2017
© Copyright of Globes Publisher Itonut (1983) Ltd. 2017