Rate rises 0.4% from last month; labor force has also expanded, at least partially accounting for unemployment hike.
The unemployment rate in Israel rose significantly in March, to 6.9% of the labor force, compared with 6.5% in February, the Central Bureau of Statistics reported Monday. This represents 246 thousand unemployed people. The good news is that alongside the growth in unemployment, the labor force (the number of people in work or seeking work) has also grown, accounting for part of the rise in the unemployment rate.
Haredi man working – Photo: Baz Ratner/Reuters
This is the first time that the Central Bureau of Statistics has reported in accordance with the calculation method imposed by the OECD, which instantly increased the number of unemployed by 30%.
Israeli New Shekel Exchange Rate