Israel’s unemployment rate drops to lowest since Covid

The number of unemployed people in Israel decreased to 145,300 in March, registering an unemployment rate of 3.4 per cent, the country’s Central Bureau of Statistics said.

It is the lowest unemployment rate in Israel since February 2020, which registered the same figure, reports Xinhua news agency.

Moreover, the unemployment rate under a broader definition, which includes persons who stopped working due to the pandemic and employed persons who were temporarily absent from work for a week, stands at 4.8 per cent, which is also the lowest since March 2020.

In March 2020, the unemployment in the country surged as the pandemic battered the economy, with 1 million people unemployed or on unpaid leave.

Israel’s economy has gradually emerged from the shadow cast by the pandemic over the past 12 months, prompting a drop in unemployment.

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