Unemployment rises to 6.8%

The unemployment rate reached 6.8% of the civilian labor force, in trend figures, in January 2009, the Central Bureau of Statistics reported today. The unemployment rate was 6.3% in the fourth quarter of 2008, and is projected to reach 7.5% by June.

Yesterday, the Ministry of Industry, Trade and Labor reported that there were 13% fewer available private sector jobs in the first quarter of 2009 than in the preceding quarter and 62% fewer available jobs than in the first quarter of 2008. Ministry of Industry Manpower Planning Authority director Benny Pfefferman estimates that 80,000 people have lost their jobs in the private sector in the past six months.

Published by Globes [online], Israel business news - www.globes-online.com - on March 18, 2009

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