World Economic outlook - Israel unemployment rate october 2011 : Israel's unemployment rate fell to 5% of the civilian labor force in October 2011, an all-time low, the Central Bureau of Statistics reported today.
The Central Bureau of Statistics also revised its unemployment figures for the preceding months, indicating a steady monthly decline of 0.1-0.2% in the unemployment rate since January. The unemployment fell from 6.2% in January to 5.6% in May and 5% in October.
The figures are surprising, given that economic activity is declining, including by labor-intensive export-oriented manufacturing. However, the unemployment rate is the economic indicator with the longest time-lag in its response to changes in activity.
Many economists attribute part of the drop in the unemployment to bad reasons: more people are leaving the jobs market, as indicated by the previous labor survey, which lowers the unemployment rate. source http://www.globes.co.il/serveen/globes/docview.asp?did=1000709947&fid=1725
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