Unemployment rises to 7%

Yacimovich criticizes Netanyahu for failing to respond to current jobless data.

By NADAV SHEMER
November 29, 2012 06:18
People stand in line at the Employment Authority.

unemployment 311. (photo credit: Ariel Jerozolimski)

The jobless rate rose to 7 percent in October, from 6.9% the previous month, the Central Bureau of Statistics reported Wednesday.

The female jobless rate rose from 6.5% to 6.9%, canceling out a drop in the male jobless rate from 7.3% to 7%. Males accounted for almost 53% of the 3.384 million individuals who had jobs in October.

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Workforce participation fell to 63.8% from 64.1%, while the employment rate fell to 59.4% from 59.6%.

Unemployment hit a three-year high of 7.1% in June, fell to 6.5% in July and has gradually risen since then to its current mark of 7%.

Labor chairwoman Shelly Yacimovich criticized Prime Minister Binyamin Netanyahu on Wednesday for not responding to the latest data, saying his government’s “outdated economic methods” were the cause of high unemployment and were leading Israel toward becoming a “nation of income gaps in which we cannot earn a living and a respectable existence.”


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