4.01 million people are employed - exceeded that recorded before the corona crisis

The number of employed persons in the economy first exceeded that recorded before the corona crisis, reaching 4.01 million. However, the employment rate stands at 59.2% - significantly lower than it was before Corona; This is probably due to the fact that the crisis of unemployment from choice in the economy continues. In addition, the number of job vacancies has broken this record for the seventh month in a row since the beginning of the survey, rising from 138,000 to 143,000.

At the same time, the unemployment rate rose slightly, from 7.1% in the first half of October to 7.3% in the second half; The entire unemployment rate in October stands at 7%. These things emerge from the October data of the Labor Force Survey and the Vacancies Survey of the Central Bureau of Statistics, published on Monday.
 The number of employed persons in the economy crossed the 4 million barrier and stands at 4.01. It exceeded the number of employed in February 2020, before the corona crisis, which stood at 4.005 million. However, Israel is still far from returning to the pre-Corona employment situation: the employment rate recorded only a slight increase in October, from 59.1% to 59.2%, compared with 60.9% in February 2020. That is, the economy returned to the number of employed but did not complete the increase. Happen in the last two years.
The strange situation in which the economy finds itself is well illustrated by the data on vacancies: thus, the number of vacancies increased from 138,000 to 143,000; This is the seventh consecutive month in which a record number of job vacancies has been recorded since the measurements began in 2009. The fact that there are so many vacancies alongside a relatively high unemployment rate of 7% indicates a preference for some of the unemployed to stay at home. The vacancy rate rose from 4.92% to 5.07%.
There was also an increase in the number of job vacancies in all industries, except construction and transportation, where stability was recorded. Among other things, 16,000 engineers are missing, of which 12,000 are software developers as well as 4,000 engineers and technicians. Most of the other jobs in demand are low-wage jobs: 14,000 sales workers, ten thousand waiters and bartenders, 6,000 kitchen and cleaning workers, 5,000 caregivers and 5,000 security guards.
The unemployment rate according to the CBS 'extended calculation rose from 7.1%, which is 305,000 people, in the first half of October, to 7.3%, which is 309,000, in the second half. This is a disappointing figure, after the decline of 7.9% in the second half In the monthly data, there was a decrease from 7.9%, which is 339,000 people, in September, to 7%, which is 301,000, in October.
It is estimated that the decline recorded in October reflects a number of factors: a return to the work of many educators, who have no tenure, after the size and holidays freedom; Back to work of mothers after the long vacation period; And the end of the 45-plus-plus unemployment benefits extensions in mid-October. It is precisely against this background that the decline in the unemployment rate by less than one percent is disappointing. The unemployment rate of 7% is still close to doubling compared to the period before the corona, but it is possible that in November there will be another return to work - of older workers and mothers.