Yossi Farchi, the director-general the nation’s employment services, told the Knesset Finance Committee on Wednesday that there will be an estimated 300,000 Israelis out of work by year’s end.

Also taking part in the session was Histadrut National Labor Federation leader Ofir Eini, who is calling on the government to act aggressively to address the alarming predictions, stated budgetary funding alone will not do. Israel Manufacturers Association head Brosh concurred, detailing the bleak picture and the difficulties facing the manufacturing community due to the global economic crisis.

Finance Minister Dr. Yuval Shteinitz promised the issued at hand will remain a top priority for the current administration and everything possible will be done to prevent loss of jobs and to assist those in need.

(Yechiel Spira – YWN Israel)