The number of job vacancies in Israel grew significantly in January, reaching 126,367, according to figures released at the end of last week by the Central Bureau of Statistics, up sharply from 107,554 jib vacancies recorded in December 2023.
The number of vacancies per 100 people in work rose to 4.11 in January from 3.63 in December. This is the first time since April last year that this ratio has risen above 4.
The figures represent a change in the trend since the war with Hamas broke out, and even before that. The labor market in Israel was very tight last year, and the number of job vacancies led to upward pressure on wages liable to fuel inflation. The Bank of Israel cited the labor market as one of the most problematic factors preventing prices from falling, and took action to cool the market.
The outbreak of the war in the Gaza Strip, however, led to many employees being put on leave without pay, disrupting the labor market. The rise in the job vacancy numbers in January may indicate recovery in the market and a return to normal activity, even while the war continues.
The sharpest rise in job vacancies in January was in the food and hospitality sector. Between November of January, the number of vacancies for waiters and bar staff rose 49%, while vacancies for cooks rose 43%, in comparison with the monthly average for October-December. Vacancies for home help rose 24%.
The number of vacancies for engineers rose by just 2% (to 8,650, and vacancies for technicians rose 16%, but vacancies in the construction sector fell by 1%.
Published by Globes, Israel business news - en.globes.co.il - on February 18, 2024.
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