Israeli Labor Market Shows Resilience Amidst Iron Swords War
Posted on Apr 15, 2024 by Ifi Reporter
Despite the challenges posed by the ongoing Iron Swords War, recent data from the Central Bureau of Statistics (CBS) offers a glimmer of hope for Israel's labor market.
Unemployment Rate Declines to 5.3% in March
March saw a notable drop in the unemployment rate, falling to 5.3% from February's 5.6%. This positive shift comes amidst extensive mobilization of reserves and partial economic shutdowns during the initial phases of the conflict.
The CBS highlighted a decrease in the percentage of employees absent from work, with economic reasons accounting for 20% of absences, down from 21.7% in the previous month. Notably, absenteeism due to reserve service plummeted from 25.8% in February to -20.8% in March.
In a promising sign for the economy, the number of job vacancies soared to 132,942 in March, up from 125,212 in February. This represents a remarkable 20% increase compared to December 2023. The data also reveal a significant uptick in vacancies within the industry.
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