As highest amongst OECD countries: Israel's unemployment rates jumps to 6.3%

Published August 3rd, 2014 - 01:07 GMT
Part of the explanation of the rise in unemployment is that many young people have come onto the job market but have not yet succeeded in finding employment.
Part of the explanation of the rise in unemployment is that many young people have come onto the job market but have not yet succeeded in finding employment.

The rate of unemployment in June jumped 0.3% to 6.3%, in seasonally adjusted figures, the Central Bureau of Statistics reports. Unemployment has risen from 5.6% in April.

In absolute figures 241,000 people are unemployed. It should be stressed that the figures relate to before Operation Protective Edge so Israel already entered the Gaza conflict with a sharp rise in unemployment.

On the positive side the figures show that participation in the work force in June climbed from 64.2% to 64.7%.

Part of the explanation of the rise in unemployment is that many young people have come onto the job market but have not yet succeeded in finding employment.

The quarterly figures also reflect the rising trend in unemployment which was 6% in the second quarter of 2014 compared with 5.8% in the first quarter.

 

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