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September 3, 2012 9:35 am

Israeli Unemployment Rate Drops 0.6%, Shows Brighter Picture than U.S.

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Tel Aviv Stock Exchange in Ehad Haam Street. Photo: Sambach.

Israel’s unemployment rate fell by 0.6 percent in July, when 35,000 new jobs were created, an Aug. 30 report from the country’s Central Bureau of Statistics revealed.

The Jewish state’s unemployment rate fell from 7.1 percent in June to 6.5 percent in July. By comparison, the U.S. unemployment rate stayed relatively steady at 8.2 percent in June and 8.3 percent in July, according to the U.S. Bureau of Labor Statistics.

A total of 116,000 jobs have been created in Israel since the beginning of 2012.

“We should celebrate the fall in unemployment, and, more importantly, the increase in participation in the workforce,” Israeli Finance Minister Yuval Steinitz said. “However, in order to preserve our economic growth and low unemployment rate, we will have to stick to our economic discipline in the near future.”

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