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Unemployment at lowest level in 12 years

November 29, 2006. Globes: Zeev Klein

The number of unemployed fell by 13,400 during the third quarter to 234,700.

Israel’s unemployment rate fell sharply during the third quarter of 2006 to 8.3%, seasonally adjusted, the Central Bureau of Statistics reported today. The unemployment rate was 8.7% in the second quarter and 8.9% in the first quarter. The number of unemployed fell by 13,400 during the third quarter to 234,700: 119,000 men and 135,700 women.
This is the lowest unemployment rate in 12 years. The unemployment rate has fallen by 2.6%, or 56,400 persons net, since January 2004.

The unemployment rate for men fell to 7.9% in the third quarter from 8.3% in the second quarter, and the rate for women fell to 8.8 from 9.5%. However, the number of employees temporarily absent from work rose by 16% during the quarter, because of the second Lebanon war. The number of men temporarily absent from work rose by 34%.

Israel’s civilian labor force totaled 2.81 million, of whom 2.58 million were working. The proportion of the population in the labor force was 55.6%, a drop of 0.2% from the preceding quarter. 60.8% of men were in the labor force in the third quarter, down from 61.4% in the second quarter, because of the war. The proportion of women was unchanged at 50.6%.
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