“Employment Service says new applications slowing after ebbing of initial wave of layoffs in travel, service industries, but more expected as pandemic affects other industries”

Israel’s jobless rate surges to 16.5% as virus puts 500,000 out of work
by Staff
March 22, 2020

The unemployment rate in Israel has skyrocketed to 16.5 percent, with over 500,000 people losing their jobs since the start of March, the Employment Service said Sunday. The unemployment rate was 3.6% in the fourth quarter of last year, according to the Bank of Israel. Many Israeli businesses have been forced to put their staffs on unpaid leave or lay people off as regulations closing borders and restricting movement have obliterated tourism and service industries, leading to thousands of people per day applying for unemployment benefits. READ MORE

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