Unemployment in Israel is still high - 7.9% despite the cessation of unemployment benefit payments

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by Ifi Reporter Category:Capital Market Oct 4, 2021

Unemployment in Israel does not fall, despite the cessation of unemployment benefit payments for the vast majority of those laid off and on unpaid leave. In the first half of September, there were 337.7 thousand unemployed in Israel, about 4,200 more than at the end of August, when there were 333.5 unemployed. This is a slight increase from 7.8% of the labor force in the second half of August to 7.9% in the first half of September.
Data published by the Central Bureau of Statistics (CBS) show that precisely in the more limited calculation rate, which previously determined for the payment of unemployment benefits, there was a decrease from 6.2%, which is 262.6 thousand unemployed, at the end of August, to 5.7%, which is 240.9 thousand unemployed Work in the first half of September.
The basic unemployment rate, which is not directly related to the corona crisis, fell in the first half of September to 4.8%, which is 201.9 thousand unemployed, from 5.6%, which is 237.2 thousand in the second half of August. On the eve of the corona crisis, the unemployment rate in Israel was about 3.5%, of which there were about 160,000 unemployed.
The employment rate does not include temporary absenteeism from work all week for corona-related reasons (e.g. stay in isolation, or a corona patient who has not yet recovered) and now stands at 60.1% of the labor force in the economy.
In total, the labor force in the economy numbered 6,587,700 Israelis aged 15 and over in the first half of September, while the labor force (worked or looked for work) consisted of 4,197,200 Israelis. The labor force did not include 2,390,500 women and men. 96,800 men and women, who make up 4% of the workforce, stopped working because of layoffs or job closures from March 2020.
Last weekend, unemployed people aged 67 and over who lost their jobs due to the Corona crisis stopped receiving the adjustment grant they received from the state and about 80,000 unemployed people aged 45 and over ended their entitlement to unemployment benefits this month. In addition, only about 10% of the 8,000 unemployed persons aged 45 and over whose entitlement to unemployment benefits has ended will be entitled to an income security pension.

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