Capital Market

Corona Crisis Signal at El Al Company Announces First Dismissal Today. Students of 5 flight attendants, at various stages of the course, had to return their employee card today and were notified that the course had been stopped. It's about 100 people. In the meantime, 60 pilots admitted to the company and not yet accredited - will not be admitted into the company. These are pilots recruited in April. In light of the situation El Al was in, a message was circulated among the air crew that discussions were being held about the fate of the various promotion and diversion courses with the aim...

Despite the opening of malls and shopping malls, the retail chain industry holds the highest rate of paid leave without leave (ILS): 33% of retail chain employees are still on vacation, compared to an average of 18% in May. The highest among the economic sectors, with the lowest rate recorded in the finance and insurance sectors, where 5.2% of employees are still in the foreign currency. This data comes from a fourth Bezeq survey in May, published by the Central Bureau of Statistics, to examine the state of the business when the Corona virus spread. He has three surveys conducted by the...

A month has passed since the easing of the closure began, but the numbers in the labor market have not yet shown recovery. At the height of the crisis, more than a million and 150,000 jobseekers were registered at the Employment Service at the end of April. The updated Employment Service figures show that since the release of the economy after the Passover began, on April 19, 2020, 94,000 new jobseekers have registered, while the number of reported to the Employment Service for returning to work or eliminating ISA stands at 86,000. Job seekers continue to grow.The Employment Service...

The Melnick state of the Israeli Economy Index fell by a cumulative rate of 11.7 percent in the months of ç 2020. Statistical difficulties, due to a break in the data series, and problems estimating the seasonal factors, do not allow the monthly declines of the index to be separated for the months of April and May. According to our estimate, the industrial production index and the revenue in commerce and services, seasonally adjusted, fell in April by 17.6 percent and 17.3 percent correspondingly (see note below). Imports of inputs for domestic production, which is a major component of the...

The Bank of Israel extends the outline of freezing of bank loan payments received in May due to the Corona crisis. The Supervisor of Banks announced today (Monday) the extension of the possibility of freezing loans, when according to the new outline it will be possible to apply for a freeze for all types of loans such as consumer loans, mortgages or business loans, until the end of October. The significant expansion of the mortgage has been made in the field of mortgages: It has been established that in this area, customers who have already requested a mortgage freeze will be able to...

The Israeli economy contracted in the first quarter of 2020 by 6.9% at an annual rate, after an increase of 4.6% in the fourth quarter of 2019. This emerges from the third estimate for the first quarter published today (Monday) by the Central Bureau of Statistics (CBS). The negative development of the quarter was affected Directly from the corona crisis and the government's steps to halt the spread of the virus, which slowed economic activity. The CBS 'first estimate predicted a contraction of 7.1% in the quarter and a second estimate of 6.8%. The sharp decline in car imports intensified...

While the unemployment benefit ceiling is NIS 10.5 thousand per month, in practice unemployment benefit payments have been much lower in recent months. Thus, only 2% of the recipients of the benefits received more than NIS 10,000, and 64% received less than NIS 5,000; This emerges from data published by the National Insurance Institute. According to the data, 4% of unemployment benefit recipients receive less than NIS 1,000 a month and 9% receive between NIS 1,000 and NIS 2,000. 38% of benefit recipients receive between NIS 3,000 and NIS 5,000 per month. Since the beginning of the crisis,...

The Central Bureau of Statistics published a comprehensive survey at noon (Sunday) in which many Israelis were asked about their health, mental and economic status during the period of the second wave of the Corona virus. Naturally, the concerns that arise around the health crisis are also related to the mental health and economic well-being of Israelis, especially in light of the closure imposed in the first wave, and the fear allows for a closure in the near future. More than half of Israelis fear that they will not be able to cover their monthly expenses. This is an increase of 9% from...

It will be four to five years before the Israeli economy recovers from the corona crisis and returns to a state of full employment - according to the Ministry of Finance's economic forecast for 2023-2020, published today (Sunday). The Treasury presents two possible scenarios: recovery and exacerbation. In a situation of aggravation, the ministry warns, the unemployment rate will be 15% at the end of the year. According to the Treasury's forecasts, growth is expected to contract by 7% in 2020 and grow by 2.2% in 2021