FICC: 53,000 new commerce and service jobs in the period January-July 2006

The study shows that the Business services sector had the largest growth rate of all the commerce and services sectors, with an increase of 4.8%
 
According to a study published last week by the economics division of the Federation of Israeli Chambers of Commerce (FICC), 53,100 new jobs were added in the commerce and services sectors during the period January-July 2006.
 
The FICC noted that with the newly added jobs, the total number of jobs in these sectors is 1.2 million.
 
The study shows that the Business services sector had the largest growth rate of all the commerce and services sectors, with an increase of 4.8% or 22,200 to 487,500 jobs.
 
The number of jobs in the banking and insurance sectors grew by 2.6% or 2,000, to 78,900 jobs while the commerce sector grew by 2.9%, or 10,000, to 354,200 jobs.
 
The transport, storage, and telecommunications sector grew by 3.9% or 5,500, to 148,200 jobs, while the number of positions in catering and hospitality sector grew by 10.9% or 13,400 to 135,900 jobs, mainly thanks to seasonal factors.
 
Uriel Lynn, chairman of the Federation of Israeli Chambers of Commerce, noted after the release of the study that: “The employment figures clearly point to the fact that Israel’s economy is undergoing rapid structural changes. The changes are typified by increased expansion of the commerce and services sector, compared with other sectors in the economy.
These structural changes are typical of all developed economies, and as the last three years show, the service sector guarantees the creation of the number of jobs that the economy needs.”