A crowd in Tel Aviv. Photo: Wiki Commons.

Israel’s unemployment rate dropped to a record low in February 2014, down to 4.9% compared to 5.4% in January for people aged 25-64.

According to a seasonally adjusted study released by the Central Bureau of Statistics (CBS) last week, approximately 3.5 million people out of 8.1 million in Israel are employed.  The study found that 216,000 people were unemployed in February, approximately 3,000 fewer than in January.

Among males aged 25-64, the employment rate rose to 81.1% and among females aged 25-64, the employment rate rose to 71%.

The CBS survey found that unemployment also declined for those people aged 15 and over, from 5.9% in January to 5.8% in February. The employment rate for that age group rose to 60.5% in February.

In addition, the CBS survey found that among employed men, 87% work full time and 13% work part time. Among employed women, 67% work full time and 33% work part-time.

The number of employed people who usually work full time (35 hours or more per week), increased by 0.8% compared with January – an additional 21,000 people.

Israel’s unemployment rates have been trending lower for the past two years, a source in the Central Bureau of Statistics told Tazpit News Agency. “Ž