Unemployment in Israel is growing rapidly. The reason is conflict

Unemployment in Israel is growing rapidly. The reason is conflict
Unemployment in Israel is growing rapidly. The reason is conflict

The unemployment rate in Israel jumped to almost 10% in October. They pointed to the data published by the Israeli Statistical Office on Monday. The reason is Israel’s conflict with the Palestinian militant group Hamas, which forced tens of thousands of people living near the Gaza Strip to leave their homes. TASR informs about this on the basis of the agency agency Reuters.

The Štatistický úrad has announced that the expected temporary loss of work due to the evacuation of residents from the area near the border with Gaza is already being considered, the unemployment rate in Israel reached 9.6% in October. The number of unemployed reached 428,400 in October, while 163,600 people were out of work in September. In September, unemployment reached 3.4%, and in the case of the nezapočitania ľudit začetných situation in Gaza, it would have moved approximately at the same level.

After the Hamas attack on Israel on October 7, almost 400,000 reservists were called up, but according to official figures, roughly 80,000 Israelis had to go on unpaid leave in the past few weeks. The employment rate fell in October to 56.5% from September’s level of 61.1%.

The initial low rate of unemployment significantly supported the economic growth of Israel, but the current high number of people without work due to the conflict will probably lead to a decline in the economy in the 4th quarter. For the whole year 2023, it is then calculated so spomalením rastu ekonomiky below the original expected level of 2.3%.

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