Unemployment falls despite slowing growth

Despite the economic slowdown, the unemployment rate fell to a seasonally-adjusted 6.7% of the civilian labor force in the third quarter of 2012 from 6.9% in the preceding quarter, the Central Bureau of Statistics reported today. However, the unemployment rate in original data rose from 6.6% in the second quarter to 7% in the third quarter.

The proportion of people over 15 in the labor force rose to 60% in the third quarter from 59.2% in the preceding quarter.

The unemployment rate of people aged 25-64 fell to 5.7% in the third quarter, even as the proportion of this segment in the labor force rose further to 79%.

However, the proportion of full-time employees was 2% lower in the third quarter than in the preceding quarter, while the proportion of part-time employees (who work less than 35 hours a week) rose by 11.5%, or 103,000 people.

Published by Globes [online], Israel business news - www.globes-online.com - on October 31, 2012