Posted on 12/08/21
| News Source: i24
Israel's employment rate reached 62.1 percent in November while the average monthly wage sits at $3,710
Israel’s employment rate registered a sharp jump in the first half of November, reportedly back to the rate prior to the Covid pandemic.
However, the average monthly salary of employees dipped slightly in recent months.
Average monthly wages for Israelis fell to $3,710 in recent months, compared to $3,743 in July and $3,752 in August, The Central Bureau of Statistics (CBS) said Thursday.
Still, the unemployment rate in the first half of November was down to 6.7 percent compared to 7.3 percent in the second half of October.
The employment rate registered a jump to 62.1 percent - almost 4.1 million people employed - which was roughly the rate in January and February 2020.
In a previous survey by CBS, Israel’s employment rate in the second half of October was at 59.25 percent, Haaretz noted.
Improvement in the broad employment rate is mostly due to a decline in the number of people seeking work, as the economy recovers and the demand for workers soars.
Simultaneously, the eligibility of workers aged 45 and older to unemployment benefits soon expires completely, which could be a significant trigger in the sharp rise of the employment rate, Haaretz said.