Unemployment continues to rise in Israel
Unemployment rates in Israel continued to rise in November, increasing by 1.5 percent to 198,400, confirmed official figures released Tuesday, December 18. As a result of the Palestinian uprising and the global economic slowdown, the total number of individuals looking for employment surpassed 235,000, or 9.3 percent of the population qualified to work, according to quarterly figures.
The finance ministry has drawn up an emergency plan, involving budget cuts totaling six billion shekels ($1.4 billion) and tax increases. The plan, unpopular in the cabinet, is expected to soon be approved by the government before the budget is voted in parliament, reported AFP. — (menareport.com)
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