Unemployment rate at historic low in Q4 2011

The unemployment rate fell to 5.4% of the civilian labor force in the fourth quarter of 2011 from 5.6% in the preceding quarter.

The unemployment rate fell to an all-time low of 5.4% of the civilian labor force in the fourth quarter of 2011 from 5.6% in the preceding quarter, the Central Bureau of Statistics reported today. The unemployment rate fell to 5.6% in 2011 from 6.6% in 2010, with a net increase of 87,000 jobs during the year.

The unemployment rate of 5.4% in December was unchanged since July.

Participation in the labor force rose to 54.2% in 2011 from 53.5% in 2010. The labor force totaled 3.23 million in the fourth quarter, of whom 3.05 million were employed and 175,000 were unemployed.

High-tech employees accounted for 10.3% of all employees in 2011, up from 10.2% in 2010. The number of contract workers through employment agencies fell to 23,400 persons in 2011 from 29,300 in 2010.

The employment rate among persons aged 25-64 rose to 72.1% in 2011 from 71.2% in 2010, and full-time employees accounted for 77.4% of all employees, up from 76.7% the year before.

Tel Aviv had the lowest unemployment rate among cities with more than 100,000 residents, at 4.4% in 2011, down from 5.7% in 2010. Bene Brak and Netanya had the highest unemployment rates, at 7.9% and 6.8%, respectively. Rishon LeZion had the highest employment rate, at 62.9%, followed by Petah Tikva at 62.7%, and Tel Aviv at 62.5%. Bnei Brak and Jerusalem had the lowest employment rates, at 32.3% and 43.2%, respectively.

Published by Globes [online], Israel business news - www.globes-online.com - on February 28, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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