The unemployment rate fell sharply to 6.5% in July from 7.1% in June, the Central Bureau of Statistics reports.
Despite a three-year high in layoffs in July 2012, following steady increases in layoffs in the previous months, the Central Bureau of Statistics today reported that the unemployment rate among persons over the age of 15 fell to 6.5% in July from 7.1% in June and 7% in the second quarter.
Participation in the labor force also rose to 59.8% in July from 59% in June. The data indicate that more people are entering the labor force, but cannot find jobs, and that laid off employees are unable to find new jobs quickly.
The unemployment among persons aged 25-64 fell to 5.6% in July from 6.1% in June. Participation in the labor force by persons aged 25-64 rose to 74.3% in July from 74.1% in June.
Published by Globes [online], Israel business news - www.globes-online.com - on August 30, 2012
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