Unemployment lowest since 1990s
Israel's unemployment rate fell to 6.7% in the fourth quarter.Unemployment fell to a seasonally adjusted 6.7% in the fourth quarter, compared with 7.2% in the preceding quarter and 7.8% in the corresponding quarter in 2006, the Central Bureau of Statistics reports. This is the lowest rate of unemployment in Israel since the early 1990s, and the first time it has fallen below the 7% level.
Based on seasonally adjusted statistics, the number of unemployed people fell to 195,700, compared with 210,300 in the preceding quarter and a record 248,400 in the corresponding quarter in 2005. The number of unemployed has fallen by 53,000 in two years, and by 15,000 per quarter. 98,400 of the unemployed in the fourth quarter were women and 97,200 men.
The unemployment for 2007 as a whole fell to 7.3%, from 8.4% in 2006. This is also the lowest rate since the early 1990s. The rate of unemployment among men fell to 6.8% compared with 7.9% in 2006, while the rate of unemployment among women fell to 7.9% in 2007 from 9% in 2006.