The appearance of a booming Israeli economy is not a mirage, with the most recent employment figures reflecting a robust job market for workers in the Jewish state.
By: United with Israel Staff
According to the most recent figures released by Israel’s Central Bureau of Statistics (CBS), the unemployment rate in Israel hit its lowest point in close to 40 years. Indeed, in December 2017, Israeli unemployment dropped to just 4%.
Not only did December’s figure leave Israel closing out the year on a high note employment-wise, the figure also represents a 0.3% decrease from the previous month.
According to the CBS’ statistics, the percentage of Israelis aged 15 years or greater in the workforce hit 64.1%, besting the 63.9% figure in November.
While Israeli unemployment in 2016 hovered at 4.8%, the overall figure in 2017 clocked in at 4.2%.
The Israeli economy and job market consistently receive a boost from a number of sectors, from high tech to tourism. In 2017, Israel welcomed about 3.6 million incoming tourists, an all time high. Among the millions of visitors to the Holy Land were high-profile musicians and performers, such as Radiohead, Britney Spears, and Conan O’Brien.
Israel, popularly known as “start-up nation,” also continues to dominate the world of high tech innovation. This week, the Jewish state hosted Cybertech 2018 in Tel Aviv, which brought together industry leaders, government decision-makers, and technology experts from around the world.
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Source: United with Israel