Disappointing decline in unemployment in June despite the end of the unemployment benefits

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by Ifi Reporter Category:Government Jul 19, 2021

A slight and disappointing decline was recorded in unemployment in June, despite the end of the unemployment benefit extensions at the end of that month. The unemployment rate according to the CBS 'extended calculation fell from 9.8% in May to 9% in June, a decrease of only 25,000 unemployed.
The unemployment rate according to the limited calculation used by the Treasury has dropped from 6.8% to 6.6% and in only 5,000 people. This is according to data from the Labor Force Survey of the Central Bureau of Statistics for June.
The real test of the economy will be whether there will be a big decline in July. What will make recovery difficult is the possibility of returning to closure on holidays.

The data are particularly striking in light of the fact that the number of job vacancies has been breaking the record in recent months since the survey began in 2009. It rose 5% from 122,000 in May to 128,000 in June. Experts also estimate that the CBS does not reach all vacancies and in practice the number of vacancies is greater.
The Central Bureau of Statistics publishes three main unemployment data for the corona period:
The percentage of unemployed (unemployed in the classic definition - people without a job looking for work) rose from 5.1% in May to 5.4% in June. This figure knew many ups and downs during the Corona period. Until the phenomenon of unemployment returns to normal, it will be very difficult to learn from it about the proportion of people without an employer in the economy. However, as unemployment falls, the gap between the number of unemployed and the number of unemployed decreases.
The percentage of unemployed plus missing persons each week surveyed from their work dropped slightly from 6.8% are 279,000 people, in May to 6.6%, which is 274,000 in June. The definition of missing persons in each week of the survey from their work should locate those who are on unpaid leave. The unemployed plus the missing all week This is the narrowing figure through which the Ministry of Finance measures unemployment.
The expanding figure of the percentage of unemployed plus missing persons each week surveyed from their work dropped slightly from 6.8% are 279 thousand people, in May to 6.6%, which is 274 thousand in June. The definition of missing persons in each week of the survey from their work should locate those who are on unpaid leave. The unemployed plus the missing all week This is the narrowing figure through which the Ministry of Finance measures unemployment.
The expanding figure of the Central Bureau of Statistics includes the unemployed, people who have been absent from work all week and people who lost their jobs during the Corona period and are not looking for work. This is the figure closer to the situation on the ground. The unemployment rate according to the expanding calculation dropped from 9.8%, which is 412,000 unemployed in May, to 9%, which is 387,000 people in June, including the unemployed, people who were absent from work all week and people who lost their jobs during the corona period and are not looking for work. This is the figure closer to the situation on the ground. The unemployment rate according to the expanding calculation fell from 9.8%, which is 412,000 unemployed in May, to 9%, which is 387,000 people in June.

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