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Finance sector leads jobs recovery

פברואר 14, 2010. Globes: Shay Niv

The financial sector continues to lead the jobs recovery, according to the index of Manpower Israel Ltd., based on help-wanted ads in the daily newspapers. Demand for workers in the financial sector was 6.1% higher in January 2010 than in December 2009, and 51.6% higher than in January 2009.

Demand for workers in general was 0.5% higher in January than in December, and 2.8% higher than in the corresponding month.

The financial sector was the first to feel the effects of the economic crisis which broke out in the summer of 2008, and investment houses were the first firms to fire employees, even before the crisis spread to the real economy. These firms are now among the first to hire in order to strengthen their ranks.

Demand for education workers rose by 5.4% in January, compared with December, but demand is still 52.9% less than in January last year. Demand for construction workers rose by 4.3% in January, compared with December, but demand is still 1.4% less than in January last year. Demand for service workers fell by 2.1% in January.

Manpower Israel CEO Orna Segal said, "The lack of uniformity in demand between different sectors characterizes a healthy economic recovery. I predict that the situation will balance out over the year."

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