Academics strike could cost NIS 350 million

"Israeli students would be the real victims if the semester is canceled," says Dr. Oron of the Arison School of Business at the IDC in Herzliya.

January 15, 2008 08:32
1 minute read.

The academics strike could end up costing the Israeli market NIS 350 million, according to the Manufacturers Association of Israel. That sum would be the estimated damage the economy would suffer should the three-month semester be canceled, causing a delay in the integration of bachelor's degree graduates into the workforce, Ruby Ginel, director of the association's Economics Division, told The Jerusalem Post Monday. "We built a model based on what would happen to worker productivity if that three-month delay took place," he said. "We think that landing another blow like this on the market will be very difficult to accept. Tens of thousands won't join the market in time. The strike has to end based on a solution acceptable to all sides, so that a quality workforce can come in." Israeli students would be the real victims if the semester is canceled, according to Dr. Yitzhak Oron of the Arison School of Business at the Interdisciplinary Center in Herzliya. In an interview with the Post on Monday, he expressed deep concern for the financial welfare of the tens of thousands of Israeli students who "pay rent, can't work properly and can't study properly due to the strike. They are neither here nor there. They are suffering more damage than anyone else." "If the semester is canceled," Oron added, "the university fee will have to be returned in part to the students, which would result in a financial collapse of the universities."

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