The unemployment rate continues to fall: only 3.4% in March
The Central Bureau of Statistics publishes employment data today: another slight decline in the unemployment rate of 3.4%, compared with 3.7% in February
Between Ashkenazi
25/04/2022
Monday, 25 April 2022, 12:19 Updated: 12:51
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According to CBS data, the unemployment rate continues to be low, mentioning the rate before the outbreak of the corona epidemic so that it stands at 3.4% compared to 3.7% in the half-oblivion of last February
. In February
, as mentioned, these figures indicate a complete recovery of the labor market from the Corona virus, and although the recovery was expected, it was surprising that the unemployment rate withdrew, a decline that managed to beat even the most optimistic forecasts.
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The entry into the National Insurance offices with the outbreak of the corona that led to tens of percent unemployment in the first months of the epidemic (Photo: Yoav Itiel)
And not only are employment data encouraging, but also the fact that they reflect the first quarter of 2022. After a record year in Israeli economic performance, this year opened with declines in the capital market, reports of global companies missing their growth forecasts - and of course, the Russia-Ukraine war. That many estimated that it would have a negative impact on economic activity in the world, including in Israel.
It is quite possible that the Russian invasion of Ukraine will still have long-term consequences, but at least in the immediate term, it is clear that its damage at the moment is not as severe as it was when it erupted.
More from the data of the industry: The percentage of employed persons who were temporarily absent from work all week due to reasons related to the Corona virus and including the unemployment rate stands at 3.7%, compared to 4.2% in the previous month.
Whereas the percentage of the labor force of non-participants who stopped working due to dismissal or closure of the workplace from March 2020 includes the rate of employed persons who are temporarily absent from work all week due to Corona virus and unemployed persons stands at 4.8% compared to 5.4% in the previous month.
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unemployment
CBS
employment
Corona