JERUSALEM: Israel’s unemployment rate dropped in July to 4.1% from a revised 4.3% the month before, the Central Bureau of Statistics said on Monday, making it the lowest jobless rate seen in decades. Bank of Israel figures, which only go back to 1995, show the July figure to be the lowest. The CBS figures show it to be the lowest since 1980. The CBS said that despite the falling jobless rate, the percentage of Israelis over the age of 15 in the labor force or actively looking for a job increased slightly in July, to 61.4% from 61.3% in June.
Among the key working ages, 25 to 64, the July unemployment rate was an even lower 3.8%, falling from 3.9% the month before. The labor force participation rate for the group to 77%, up from 76.6%, the CBS said. The percentage of workers in full-time jobs fell to 77.5% in July from 78.2%, but that was probably due to the fact that many hourly workers work fewer hours in the summer while many young people join the labor force during summer vacation in part-time jobs.
