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November 22, 2016 12:09 pm

Israeli Unemployment Rate Hits 30-Year Low

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Employment rates in Israel at a 30-year high. Photo: Wiki.

Employment rates in Israel are at a 30-year high. Photo: Wiki.

JNS.org – Israel’s unemployment rate dropped to 4.5 percent in October, marking a three-decade low, the country’s Central Bureau of Statistics (CBS) reported Monday. This figure represents a 0.5% drop from September’s jobless rates, which stood at 5%.

The CBS found that for the first time in Israel’s history, unemployment among Israelis aged 25-64 hovers near the 4% mark. Men’s jobless rates were set at 3.8%, and among women in this age group unemployment was at 4.1%.

The data further showed that 179,000 Israelis registered with unemployment bureaus nationwide in October, compared to 199,000 in September, representing a 10% drop. Employment rates climbed to 80%, with 78% of Israelis holding full-time jobs and 22% part-time ones. The number of Israelis holding full-time jobs grew by 29,000 in October, and the number of Israelis holding part-time jobs decreased by 22,000.

Among Israelis aged 25-64, 85% of men and 75.5% of women are employed. Employment rates among teenagers aged 15-18 remained unchanged, at 61.2%, the report said.

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