The banking and finance sector saw sharp falls in June compared with the preceding month.
The Manpower Israel demand for workers index shows a drop in demand in June 2008 compared with both the beginning of 2008 and the corresponding month of 2007. The index fell 2.4% compared with May and 9.6% compared with June 2007. Demand for workers in the second quarter was down 3.7% compared with the first quarter and down 7.9% compared with the corresponding quarter of last year.
The sharpest drop in demand for workers was in the banking, finance, and insurance sector. Demand for workers was 6.8% lower in June than in May and 16.8% lower than in June 2007. Demand for managers was 26.1% lower in June 2008 than in June 2007.
Manpower Israel CEO Orna Segal said, "The present global economic environment is affecting the Israeli market, and Israeli employers are taking a cautious policy."
Published by Globes [online], Israel business news - www.globes-online.com - on July 20, 2008
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