Israeli unemployment rate drops to 4.5 percent, marking 30-year low



The Israeli flag. Credit: Wikimedia Commons.

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

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

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

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

Posted on November 22, 2016 .