Figures from an unemployment survey conducted by the Central Bureau of Statistics show that unemployment totaled 176,500 people out of a labor force totaling 4.09 million at the end of July. The unemployment rate in July was 4.3%, compared with 3.7% at the end of 2017. Seasonally adjusted figures showed a similar picture, with 4.2% unemployment in July, compared with 4.0% in the three preceding months and 3.7% in January 2018.

The rise in unemployment was greater among women than among men. Unemployment among women rose to 4.2% in July, compared with 3.9% in June, while unemployment among men in July was 4.1%, compared with 4.0% in June.

At the same time, trend figures calculated by the Central Bureau of Statistics show a relatively stable picture. Unemployment in July in trend figures was 4.0%, the same as in May and June and compared with 3.9% at the end of January.

These figures seem show that while unemployment in Israel has reached a floor in recent months, it is still at the same low level according to the trend data.

The unemployment rate in the 25-64 age bracket, which contains the bulk of the labor force, was lower in July than in the preceding months: 3.4%, compared with 3.6% in June. Most of the increase in unemployment is therefore attributable to the 15-23 age bracket.

A point worthy of note is that some of the decline in the unemployment rate in the 25-64 age bracket resulted from a lower rate of participation in the labor force among this group: 80.4% in July, compared with 80.7% in June. The rate of participation among men aged 25-64 fell from 84.8% in June to 84.1% in June, while among women it rose from 76.7% in June to 76.8% in July. It appears that the expansion in the labor force that has prevailed in the economy in recent years may therefore have reached its upper limit.

Published by Globes [online], Israel business news - www.globes-online.com - on August 27, 2018

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