Posted on 11/20/2002 2:46:32 PM PST by Willie Green
For education and discussion only. Not for commercial use.
The unemployment rate rose 0.1 percentage points to 10.4 percent in the third quarter, the highest rate in two years, according to seasonally adjusted figures released by the Central Bureau of Statistics on Wednesday.
The figures point to a mild rising trend in the number of jobless according to Petachia Bar-Shavit, head economist at Bank Hapoalim. "We expect unemployment to be 10.4% for 2002, while the continuing recession will push the rate to 10.8% by the end of 2003."
The jobless rate was 0.8 points higher than the 9.6% in the third quarter of last year. The rate reached as high as a seasonally adjusted 10.6% in the first quarter of 2001.
The number of unemployed women rose from 10.5% to 11% while the number of unemployed men actually fell slightly from 10.1% to 9.9%.
The number of jobless totaled 264,800 in the recent quarter, while the total work force reached 2.5 million.
The percentage of those belonging to the work force of the total number of potential workers remained unchanged at 53.9%. The number of women belonging to the work force as a percentage of the potential female work force grew to 48.4% from 48.2% while the percentage of men fell to 59.8% from 60%.
The potential work force includes all men and women from 15 years old and up.
New immigrants have a higher employment rate as a percentage of their potential work force than does the general population and the same as the total Jewish population 57%.
The average number of working hours rose by 1.4% to 37.4 hours. Often employers prefer to demand more hours and productivity from existing workers before making layoffs.
Only those who actively searched work during the week they were surveyed by the CBS and did not work at all in the four weeks preceding the survey were defined as unemployed.
Israel's unemployment rate has risen 1.9 points since the economy slid into recession in the fourth quarter of 2000. The bureau last month forecast that gross domestic product would decline 0.9 percent this year, the same rate as in 2001.
The Finance Ministry wants to coax more Israelis into the labor force by cutting unemployment benefits next year.
I did add "Israel" to the topics list.
I wish more countries would be added to what's available there.
And/or regional designations such as "Middle East" or "Carribean".
Come to think of it, even having "Puerto Rico" would be helpful.
Maybe one of these days, the list will become more refined.
I imagine there must be higher priorities in maintaining the forum software.
Those guys are really unpopular in Israel, esspecially since they have the right to do that and even receive bonus welfare benefits, just by the virtue of declaring themselves an independent scholar
If you think Sweden is socialist you should see Israel, without the American taxpayer Israel would not be able to function as a state.
Nope. I posted the title verbatim from the original source.
Gotta admit, I'm not displeased that some may be misled by the headline.
It'll do them some good to learn a little about Israel's current economic situation.
Just another tidbit to understand in the complexities of that region.
'Tis better to be informed than uninformed.
If you think Sweden is socialist you should see Israel, without the American taxpayer Israel would not be able to function as a state.To Israel's defence, Sweden doesn't have to pour billions into defending itself against terrorist and hostile neighbours. Neither Norway nor Finland is going to invade Sweden anytime soon. Per capita Sweden invest a third of what Israel has to dish out. Maybe that's why Swedens unemployment is a third of Israels? :)
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