Israel's unemployment rate drops to all-time historic low of 5.4%

Total participation in the labor force rose from 53.5% in 2010 to 54.2% in 2011.
 
The Central Bureau of Statistics announced on 28 February that Israel's unemployment rate fell to an all-time low of 5.4% of the civilian labor force in Q4/11 from 5.6% in the preceding quarter.
 
The overall unemployment rate in 2011 was 5.6%, compared to 6.6% in 2010 with a net increase of 87,000 jobs during the year.
 
The last time unemployment sank that low was in 1978. The figure then was 4.3% of the adult workforce. The rate of unemployment among men plunged from 6.8% to 5.6%. Among women, the rate fell by 6.5% to 20.2%.
 
The country’s labor force totaled 3.23 million workers in Q4, with 3.23 million employed.
 
Total participation in the labor force rose from 53.5% in 2010 to 54.2% in 2011. High-tech employees accounted for 10.3% of all employees in 2011, up from 10.2% in 2010.
 
The number of contract workers through employment agencies fell to 23,400 persons in 2011 from 29,300 in 2010.