The unemployment rate in Israel fell to a 20-year low in August, and unlike in the United States, participation in the job market is increasing, according to the latest data from the Central Bureau of Statistics
The jobless rate in August was 6.1 percent, compared with a 7.3 percent in the United States. The rate for September is expected to remain the same.
However, the official unemployment rates do not include discouraged workers who have settled for part-time jobs or have given up looking for work.
Forbes estimated in June that the “real” jobless rate is more than 14 percent, while in Israel, increased participation in the labor market indicates the opposite.
The American jobless rate also is being driven down by “baby boomers” retiring, while the higher birth rate in Israel creates a larger labor pool as well as establishing the basis for further for more growth through consumption.
High-tech still is the rage in Israel, and none other than U.S.-based Intel almost always is looking for workers.
It also has saved the jobs of 800 workers of Micron Technology employees, which decided last December decided to close down its Israeli operations. Intel will take over Micron’s fab plant and incorporate all of the workers into its work force.Jewish Press News Briefs
About the Author: JewishPress.com brings you the latest in Jewish news from around the world. Stay up to date by following up on Facebook and Twitter. Do you have something noteworthy to report? Submit your news story to us here.
If you don't see your comment after publishing it, refresh the page.
Our comments section is intended for meaningful responses and debates in a civilized manner. We ask that you respect the fact that we are a religious Jewish website and avoid inappropriate language at all cost.
If you promote any foreign religions, gods or messiahs, lies about Israel, anti-Semitism, or advocate violence (except against terrorists), your permission to comment may be revoked.