Unemployment remains low, for now

ISRAEL - In Brief 18 Oct 2023 by Jonathan Katz
Unemployment remained low and stable in September at 3.2% (sa). Nevertheless, the employment ratio to the working age population declined to 61.4% from 61.6% last month. In other words, unemployment remained steady due to a slight decline of both the number of employed and of the labor participation rate to 63.5% from 63.6% (less job seekers). Israel’s labor market remained tight before the outbreak of hostilities, but looking towards 2024, we expect unemployment to push higher as the economy decelerates; in part as a result of this round of violence which is expected to be prolonged. The BoI has signaled that rates will remain stable on Monday (we could possibly see a 0.25% cut) in order to support FX market stability, but following the cessation of violence we think the conditions will support steady monetary loosening.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this or its contents.