Unemployment in Israel in October remained unchanged from September at 3.1% (seasonably adjusted), the Central Bureau of Statistics reports. This is a surprising statistic because the number of job vacancies fell sharply by 18% and mainly because of the war, which began on October 7.
But while unemployment officially remains very low, the significant figure is the huge rise in the number opf employees who are temporarily absent from their jobs. This figure soared to 430,000 in October from 160,000 in September and includes employees in the army reserves and employees placed on unpaid leave, the Central Bureau of Statistics reports.
In measuring October's figures, the Central Bureau of Statistics also did not survey those living within seven kilometers of the Gaza border including Ofakim.
So while the October figures show no fall in unemployment, the full numbers presented by the Central Bureau of Statistics clearly indicate a cooling off in the job market with many employees going on unpaid leave.
Published by Globes, Israel business news - en.globes.co.il - on November 20, 2023.
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