Unemployment in Israel soars above 800,000

unemployment  photo: Ariel Yarozlimksy

Employment service director general: The new restrictions will cause a new wave of unemployment.

According to the latest announcement by the Israel National Employment Service (INES), 657,876 new jobseekers have registered since the beginning of March, making a total of 815,727 unemployed and an unemployment rate of 19.6%. 90% of those who registered in March were on unpaid leave.

24,000 people registered as jobseekers between 5pm yesterday and 7pm today. 45,647 people registered yesterday, compared with 38,016 on Monday and 54,035 on Sunday.

INES director general Rami Garor said, "We are still seeing a lower number of new jobseekers than the record numbers from last week, but we are not fooling ourselves. It is clear that the more stringent rules and additional restrictions in the struggle against coronavirus are liable to result in more waves of unemployment.

"We are concentrating as much as possible on helping unemployed and active employers in this emergency period, and are preparing for when the severe restrictions are removed and the economy resumes its activity, a period that is likely to be gradual and difficult in its own right."

Published by Globes, Israel business news - en.globes.co.il - on March 25, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

unemployment  photo: Ariel Yarozlimksy
unemployment photo: Ariel Yarozlimksy
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