Unemployment in Israel rises to 4%

The unemployment rate in Israel rose to 4% in the second half of February, up from 3.8% in the first half of the month, the Central Bureau of Statistics reports. Despite the rise, unemployment is still very low in historical terms coupled with the fact that the number of job vacancies is continuing to rise in the post-Covid era.

At the same time, the unemployment rate under the broad definition also rose to 5.8% in the second half of February from 5.5% in the first half of the month. The broad definition of unemployment includes 23,100 people on unpaid leave and those who have ceased to work because they were dismissed or because their place of work shut down following the outbreak of the pandemic in March 2020. In terms of participation in the workforce in Israel of the working age population, this figure fell to 61.4% in the second half of February from 61.9% in the first half of the month.

Published by Globes, Israel business news - en.globes.co.il - on March 21, 2022.

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