The head of Israel’s Manufacturers Association Shraga Brosh releases a bleak forecast for the Israeli workforce. He explained that the layoffs recently reported at Intel are just the beginning and a major wave of layoffs should be expected elsewhere too. He predicts the industrial sector will be the next to feel the economic blow in his address at an economic conference. He reported that since the beginning of 2015, 2,225 industrial sector workers have lost their jobs, amounting to 0.5% of the national labor force. This breaks down to 1,205 jobs in high-tech, 865 jobs in the electronic communications equipment and the remainder divided between machinery & equipment and electrical equipment.

He lamented that while the country should produce 150,000 new jobs annually, the reality is one of decreased local production and increased exports, questioning where workers will find jobs. He feels too many have been absorbed into the public sector, which he feels is already too large and likely to collapse in the not-so-distance future.

He calls on the relevant ministries including the Economy Ministry, to spend the necessary funds to boost the economy and encourage the hiring of additional workers to increase production locally.

(YWN – Israel Desk, Jerusalem)