New low: unemployment rate fell to 3.7%

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by Ifi Reporter Category:Government Feb 26, 2018

Israel has reached a new low in unemployment rates, which has not been seen since the 1970s, the unemployment rate fell to 3.7%. This is a decline of three tenths of a percentage point from December, when the unemployment rate was 4%. This emerges from data from the Central Bureau of Statistics.
In recent years, the Ministry of Economy has invested considerable efforts in opening new factories in the periphery, in order to create quality employment opportunities and raise the level of productivity while maintaining a low level of unemployment. According to data published by the Central Bureau of Statistics, the downward trend among the unemployed aged 15 and over continues, and the rate of unemployment in January reached 3.7%. According to the figures, this is the lowest unemployment rate since the 1970s in Israel.
Minister of Economics and Industry Eli Cohen: "The unemployment figures are proof of the wise, responsible and ongoing economic policy of the Israeli government ... We will continue to work to create quality jobs and raise productivity in order to bring about the growth of the economy and the continued leadership of the Israeli economy"

The Ministerial Committee on Legislation approved the initiative of the Minister of Economy and Industry Eli Cohen and the Antitrust Authority to promote competition and reduce bureaucracy. This is after they published the law memorandum whose main purpose is to strengthen the deterrence and effectiveness of the Antitrust Authority, and to focus its efforts on promoting competition and reducing the cost of living. As part of the legislative amendment, the bureaucratic burden will be removed from non-competitive bodies in order to enable fair businesses to promote economic growth in the economy.

 

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