Unemployment rate continues drop

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Unemployment fell to 6.5% in May from 7.8% a year ago.

Unemployment continued to fall in May with the Central Bureau of Statistics reporting that 197,000 Israelis were without a job. This was an unemployment rate of 6.5% compared with 7.8% May 2009 and an average unemployment rate in 2009 of 7.6% reflecting 230,000 jobless. Unemployment is thus approaching its lowest point in the past decade of 6% in July 2008.

The Central Bureau of Statistics also updated the unemployment figure for April 2010, reporting that it was 6.6% and not 6.9% as previously published.

Published by Globes [online], Israel business news - www.globes-online.com - on July 19, 2010