Second time this week: the number of job seekers is higher than those returning to work

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by Ifi Reporter Category:Government Jul 8, 2020

For the second time this week, the number of job seekers is higher than those returning to work. This is evident from the data published by the Employment Service. The data shows that in the last 24 hours, 1,448 reports of return to work were received by the Employment Service. At the same time, 1,592 new job seekers were registered.
The last time a higher number of layoffs was reported in relation to people returning to work was on Sunday this week, it was reported that the number of job seekers was double the reported return to work, with 466 reports of returning to work, compared to 850 laid off.
According to data released today since the easing of the closure of the economy on April 19, the Employment Service received 392,806 reports of return to work. On the other hand, 140,626 new job seekers were registered.
Currently, the employment service has 848,258 job seekers, of whom 578,880 are on vacation without pay. The unemployment rate stands at 20.9%.
According to the data, this seems to be a reversal of the trend of recent months, but to get the full picture, the trends have to be examined over time. Taking into account the new restrictions on the economy, the trend in the coming period is likely to be a decline in the number of returnees, probably based on statements in the restaurant and culture industries that they intend to fire many of the employees.
Unlike jobseekers who are laid off from work and enrolled in the employment service to receive unemployment benefits (and therefore relatively accurate), jobseekers report return voluntarily, so the number of jobseekers may be slightly larger than reported. However, the Employment Service estimates that numbers are close to actual numbers.
The new restrictions set the closing of event halls, pubs, gyms and other venues, along with reducing the number of people who can sit in restaurants. This raises concerns that tens of thousands who have just returned to work recently are expected to return to the unemployment cycle, and that the number of unemployed may climb to more than a million. Since the beginning of the week, about 6,000 employees have been re-released for free holidays.
Meanwhile, in the cultural, restaurant and leisure sectors, the new restrictions are furious and announce that the situation will lead to no choice of emitting tens of thousands of additional workers to the unemployment cycle. For weeks now, the struggle of the cultural industry and the non-budgeted events has been demonstrating with the Ministry of Finance and the Prime Minister's Office to inject oxygen into them.
The chief executive of the Employment Service said, "It is too early to say that there is a reversal of the trend because the gaps are still small, but that does not mean there will be no. You have to look at the data carefully. We see the recent decisions on reducing activity and returning from opening the economy due to the health crisis. So as things get worse I expect that there will definitely be an increase in the number of unemployed again, but a few more days have to wait. "
Today, about half of the jobseekers who are registered with the Employment Service are laid off, about a quarter of them are on vacation without pay, and the rest are retired. This is different from the beginning of the crisis, so the number of people laid off was a few percent, while the overwhelming majority were people who went on vacation without pay.
Responding to unemployment data, the Association of Manufacturers President Ron Tomer said, "The Treasury firmly knows the position of employers regarding the failed past programs and the significant economic plan, which we believe should be triggered to stop the deterioration of the economy and the growth in layoffs. Half-yearly, as only such a program that offers a safety net to employers who continue to employ their employees part-time, and a NIS billion to the economy through a central and green compensation path, will succeed in saving the Israeli economy from total collapse.
"If this time, too, no significant plan is announced, I fear that the economy may collapse and a sharp increase in the number of unemployed when the first to be harmed is those employed in the periphery."

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