The Central Bureau of Statistics (CBS) reported that the Israeli unemployment rate dropped by 0.3 percentage points in February, hitting a record low of 5.3%, compared to 5.6% in January.
Israel’s unemployment figures are now among the lowest jobless rates recorded among the member nations of the Organization for Economic Cooperation and Development.
CBS data found that men's participation in the workforce was up from 84.6% in January to 84.9% in February, while women's participation in the workforce was down from 75% in January to 74.4% in February.
Men's unemployment was down from 5.7% in January to 5.3% in February, and women's unemployment was down from 5.5% in January, to 5.3% in February. The overall employment rate in February was 60.6%, unchanged from January, the report said. According to the CBS, unemployment in Israel has dropped by 2.6 percentage points since 2009.