Overall participation in the workforce in Israel fell to 63.7% in September from 64.2% in August, the Central Bureau of Statistics reports.
Unemployment in Israel fell to 3.9% (172,800) in September from 4.1% (180,000) in August, the Central Bureau of Statistics reports. After falling to a low of 3.1% in April 2022, unemployment had been steadily rising over the summer but this trend has now been reversed.
At the same time, the unemployment rate under the broad definition also fell to 5% in September from 5.2% in August. The broad definition includes employees put on unpaid leave at the start of the Covid crisis two years ago and who have still not returned to work. These employees are mainly in the tourist industry.
However, overall participation in the workforce in Israel fell to 63.7% in September from 64.2% in August.
Published by Globes, Israel business news – en.globes.co.il – on October 24, 2022.
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Unemployment credit: Eyal Izhar