The Central Bureau of Statistics previously announced that the unemployment rate fell to all-time low of 5% in October.
The Central Bureau of Statistics today announced that the unemployment rate in November 2011 was 5.4% of the civilian labor force, in monthly trend figures. It also said that this rate was unchanged since July 2011.
The figure is an upward revision by the Central Bureau of Statistics: In late December, it said that the unemployment rate fell to an all-time low of 5% in October. Analysts at the time were skeptical, although Minister of Finance Yuval Steinitz did not pass up the opportunity to celebrate. At the time he said, "We are proud of the fall in the unemployment rate to the historic level of 5% - evidence of the success of the government's anti-crisis policy. To keep this achievement of low unemployment in the future, in view of the worsening crisis in Europe, we must continue to encourage investment and growth in the economy while scrupulously maintaining responsible fiscal policy."
The Bank of Israel and leading economists believe that the unemployment rate will rise gradually this year.
Published by Globes [online], Israel business news - www.globes-online.com - on January 24, 2012
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