Israel’s unemployment rate has dropped to a record low in February 2014, down to 4.9% compared to 5.4% in January for people aged 25-64.
According to a seasonally adjusted study released by the Central Bureau of Statistics (CBS) last week, over 3.5 million people out of 8.1 million people are employed in Israel. The study found that 216,000 people were unemployed February, approximately 3,000 fewer than in January.
Among males aged 25-64, the employment rate rose to 81.1% and among females aged 25-64, the employment rate rose to 71%. The CBS survey found that unemployment also declined for those people aged 15 and over, from 5.9% in January to 5.8% in February. The employment rate for that age group rose to 60.5% in February.
Four out five people (ages 25 to 64) are currently employed, with participation in the labor force rising to a record high of 80% in February according to CBS data.
In addition, the CBS survey found that among employed men, 87% work full time and 13% work part time. Among employed women, 67% work full time and 33% work part-time.
The number of employed people who usually work full time (35 hours or more per week), increased by 0.8% compared with January – an additional 21,000 employed people.
Israel’s unemployment rates have been trending low the past two years, a source in the Central Bureau of Statistics told Tazpit News Agency.