08.23.12, 12:54–The Ministry of Industry, Trade and Labor is preparing for the rise in unemployment: The worrying unemployment figures which reached a three month high last month may yet be surpassed.
Calclist reporter Miki Peled reported Thursday that the ministry is preparing itself for a scenario where the economic slowdown leads the unemployment rate to increase to 9% of the workforce compared to 7.2% last June.
This means that the number of unemployed in Israel will reach 320,000 people compared to 259,000 people in June, numbers which have not been witnessed since the beginning of the economic crisis at the end of 2009.
With this in mind, the director general of the Prime Minister’s Office summoned government ministry director generals to his office for a meeting at the end of the month to discuss the possible slowdown and recession scenarios. And next Wednesday the Knesset will convene for a special recess plenum to discuss the situation in the labor market.
Israel Employment Services Director General Boaz Hirsch admitted Wednesday that “the situation wasn’t simple,” and told Ynet that in light of the recent data stating that many of the newly unemployed are 25-34-year-olds from the high-tech sector, the employment service is monitoring the situation with a great deal of concern.
The Ministry of Industry, Trade and Labor is formulating a plan to deal with the matter but even they admit: “The market is heading in a negative direction and the trend is fixed.”…Read More>>