For the first time since the financial crisis began, unemployment in Israel during the third quarter has dropped below the 8% line, leveling off at 7.8%. While the news is an encouraging sign, one must remember that many of the newly-employed have found only part time employment, not enough to bring them out of the red. Companies are advancing on shaky ground, and in most cases, employers prefer to keep employees on a part time basis as the economy is showing first signs of bouncing back.

According to the Central Bureau of Statistics report, over 125,000 people are registered with part time employment, a bittersweet relief for some perhaps, but nonetheless, by all standards the drop below 8% unemployment is a positive sign.

(Yechiel Spira – YWN Israel)