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January 19, 2017 / 21 Tevet, 5777

Posts Tagged ‘labor market’

Bank of Israel: No Changes in Interest Rate for December

Monday, November 28th, 2016

The Bank of Israel announced Monday (Nov. 28) that the interest rate for December will once again remain unchanged at 0.1 percent.

The announcement came as welcome news for Israelis seeking to purchase homes for the first times, or those who are refinancing their homes.

The monthly economic report by the BOI Monetary Committee noted there was a seasonal decline of 0.3 percent in the housing component of the Consumer Price Index for October, which increased by 0.2 percent, “slightly more than the forecasters’ predictions of 0.1 percent, on average.”

The inflation rate as measured by the change in the CPI over the past 12 months was -0.3 percent, according to the report.

The employment picture is also positive, reported BOI. “Labor Force Survey data for October for the prime working ages (25–64) continue to show a high labor force participation rate (80.1 percent) and employment rate (76.9 percent), and a low unemployment rate (3.9 percent), while the job vacancy rate remains high, at 3.7 percent (seasonally adjusted).

“The number of employee posts increased in August by 0.25 percent, and has increased by 3.0 percent in the past 12 months. Real wages, which have been in an upward trend in the past two years, increased by 0.5 percent (seasonally adjusted) in June–August compared with the preceding three months, and nominal wages increased by a similar rate. Health tax receipts for August–October were 6.25 percent higher (in nominal terms) than in the corresponding period in the year before, reflecting the continued increase in employment and wages.”

Hana Levi Julian

Bennett to Spend $140 Million on Haredi Integration

Tuesday, August 6th, 2013

The Ministry of Industry, Trade, and Labor will allocate 500 million shekel ($140 million) to the integration of Haredim in the labor market, Minister Naftali Bennett announced today during a debate at the Knesset State Control Committee, ma’ariv reported.

“Integrating Haredim in the labor market is an acute national mission for the state of Israel,” the chair of the Jewish Home party said.

According to Bennett, “the dominant dynamic here is poverty. People who do not possess the economic ability to study Torah from morning till night would naturally seek a job. This is a blessed thing, and we must start working [to encourage it].”

Bennett added that his ministry is developing several axes along which to test the best way of integrating Haredim. “We want to direct Haredim to seek employment in areas where the market needs workers,” he said. “The current situation is that people are going to study and become proficient in areas the market doesn’t need. There’s a lack of coordination between what is and what’s needed.”

He gave one example: “Everybody is studying Law, instead of programming. There aren’t enough programmers out there, and any reasonably proficient programmer will be hired. The manufacturers are crying out, the hi-tech market is crying out for a workforce. That’s why we work all the time with the field and receive feedback. And the people in the field know well what works and what doesn’t, and we base our investment on their impressions.”

Bennett said the process will necessarily be one of trial and error, but his aim is to see in ten years the majority of Haredim integrated into the market.

Michal Tzuk, a Ministry of Industry, Trade, and Labor official in charge of employment, told the committee about a plan to create a prestigious program to prepare Haredim looking to work in hi-tech, which will include academic education and promoting Haredim as skilled workers.

Yori Yanover

Printed from: http://www.jewishpress.com/news/breaking-news/bennett-to-spend-140-million-on-haredi-integration/2013/08/06/

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