BREAKING NEWS

Unemployment hits new record low of 5.7%

By NADAV SHEMER

JULY 25, 2011 16:59

Unemployment fell to a new all-time low of 5.7 percent in May, eclipsing April’s mark of 5.8%, the Central Bureau of Statistics reported in preliminary data released Monday.

Finance Minister Yuval Steinitz welcomed the news, saying: “Just as we have committed ourselves, and despite the global difficulties and continuing crisis in Europe, the government will continue to act energetically to increase investment in Israel and the creation of new and worthwhile jobs that will lead to full employment and to a decrease in social inequality.”

The jobless rate was 6.7% in May last year. It has been steadily falling since hitting a three-year high of 7.7% in mid-2009. The Central Bureau of Statistics usually releases its monthly unemployment figures a couple of months after the preliminary data.

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