Unemployment in Israel drops to decade-low 4.8%

unemployment  photo: Ariel Yarozlimksy

Employment figures in Israel are still providing the economy's bright spot.

Employment figures in Israel are still providing the economy's bright spot. An employment survey published today by the Central Bureau of Statistics showed that annualized employment fell to 4.8% in May, its lowest point in a decade, after hitting 4.9% in April.

The shekel rose 1% against the dollar following publication of the figures, while Israel government bonds were down 0.2%, with yields of 1.83%.

According to the Central Bureau of Statistics, there were 3.925 million participants in the labor force among those over 15 years old. The percentage of employees working full time fell from 78.4% in April to 77.9% in May. The rate of participation in the labor force in the 25-64 age bracket reached 80.4% in May, while the unemployment rate in this age group dropped from 4.3% in April to 4.1% in May.

The positive employment figures contrast with the figures for economic growth; first quarter growth was 1.3%, below the government's forecasts, and amounting to negative per capital growth, given the 2% population increase. Exports were down 21.7% in February-April, led by the high-tech industry.

Published by Globes [online], Israel business news - www.globes-online.com - on June 23, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

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unemployment  photo: Ariel Yarozlimksy
unemployment photo: Ariel Yarozlimksy
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