Unemployment in Israel rose in March

Unemployment in Israel rose to 3.7% in the second half of March, from 3.2% in the first half of the month, reports the Central Bureau of Statistics.


Unemployment in Israel rose to 3.7% in the second half of March, from 3.2% in the first half of the month, reports the Central Bureau of Statistics. There were 160,000 job seekers in the second half of March, corresponding to the number of vacancies, so the Israeli economy is close to full employment.

At the same time, unemployment under the broad definition rose to 5.3% in the second half of March from 4.7% in the first half of the month.







Labor force participation for the working age population in Israel fell to 61.3% in the second half of March from 61.8% in the first half of the month.

The tightening of Israel’s labor market due to low unemployment and the record number of vacancies are likely to put upward pressure on wages, which in turn will boost inflation.

The Bank of Israel’s research department predicts 3.5% unemployment by the end of 2022 with a continued low unemployment rate in 2023.

The Israeli economy has confused the OECD’s prediction that Israel would be the last member state to recover from high unemployment during the Covid pandemic.

Published by Globes, Israel business news – en.globes.co.il – April 25, 2022.

© Copyright by Globes Publisher Itonut (1983) Ltd., 2022.



Unemployment Credit: Aviva Gantzer

Unemployment Credit: Aviva Gantzer

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