Unemployment may still be high, but it’s not because there are no jobs available. Israel had a record 112,500 vacancies available in March, the highest recorded figure ever, the Central Bureau of Statistics said in a report on Sunday.
About 30% of businesses surveyed were looking to hire employees in March, compared with 21% in February, the report said. The rise follows the opening up of the economy after the third lockdown.
The job vacancy for March was 4.43%, compared with 3.59% for 2019 and -2.47% in 2020, CBS said.
All sectors saw an increase in job vacancies during March, led by the hospitality, food, entertainment and leisure industries, as well for commercial stores. In most of the industries surveyed, the number of job vacancies is even higher than their pre-Corona crisis average, the report said.
Notably, some 34% of businesses surveyed said they employ more people now than they did before the crisis. About 19% said they have fewer than half as many employees as they did before the pandemic began.
Israel’s unemployment rate averaged 16% over the course of the pandemic, but has fallen to below 10% in April as the country’s vaccination campaign has allowed the economy to reopen. Israel is now encouraging people receiving furlough leave (Halat) payments to go back to work by offering grants and incentives to employers and employees. The country had previously guaranteed unemployment benefits through the end of June. Some 547,000 people are still registered as unemployed, according to Israel Employment Services.
Separately, the Central Bureau of Statistics reported on Sunday that Israel’s economy shrank 2.6% in 2020, not 2.4% as previously reported. That was still much better than the 5.5% average contraction reported by OECD countries during the pandemic.
The host of Coffee Mouth Scare Crow Show and CEO of 452 Impact, Inc. Here is food for thought.
Romans 6:23 "For the wages of sin is death; but the gift of God is eternal life through Jesus Christ our Lord."
John 3:16 "For God so love ed the world that he gave his only begotten Son, that whosoever believeth in Him shall be saved."