Israel's unemployment rate hits all-time low

unemployment  photo: Ariel Yarozlimksy

The Central Bureau of Statistics reports that unemployment dropped to 4.5% in October from 5% in September.

Israel's employment rate for October dropped to an all-time low of 4.5%. In September, the unemployment rate rose to 5%. The figure was published today as part of the Central Bureau of Statistics' Labor Force Survey.

The data indicate that the level of employment for Israelis aged 15 and over in the workforce remained unchanged, at 61.2%, while the percentage of Israelis aged 15 and over in the workforce declined in October to 64.1%, from 64.4% in September.

A further improvement in employment figures was noted in the number of Israelis usually working full time (35 hours per week or more), which rose 9% from September 2016. In addition, the number of employees usually working part-time (less than 35 hours per week) declined 0.3% in October.

The Central Bureau of Statistics unemployment figures have been subjected to substantial criticism, since its formulas do not include wider definitions of employment and unemployment. For example, the unemployment rate does not include the number of people who have despaired of finding work, or the number of people working part time unwillingly. Further criticism relates to the definition of an employed person, which, for the Central Bureau of Statistics, includes only those who worked in some job for at least one hour in the previous week.

Published by Globes [online], Israel business news - www.globes-online.com - on November 21, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

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unemployment  photo: Ariel Yarozlimksy
unemployment photo: Ariel Yarozlimksy
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