According to the data, 246,000 people were unemployed, but the number of people employed had also grown
The Israel's Central Bureau of Statistics (CBS) reported that unemployment rate for March was 6.9%, compared with 6.5% in February.
The CBS noted that in March some 246,000 people were unemployed.
The CBSapplies new, more accurate calculation method imposed by the OECD to measure unemployment rate. The new method considers regular and career soldiers as part of the employed labor force. According to the OECD standards, unemployed people must be over 15 years old and actively looking for a job.
The good news is that alongside the growth in unemployment, the labor force (the number of people in work or seeking work) has also grown, accounting for part of the rise in the unemployment rate.
The Bank of Israel commented on the increase in unemployment rate, noting that "The new survey method worsens Israel's standing by international comparison, but still positions it in a relatively good place compared with most developed countries".
