CBS: unemployment in January drops sharply

The unemployment rate fell to 6.1% of the civilian labor force in January 2011 from 6.3% in December 2010. The last time that the unemployment rate was at 6.1% was in March 2008
 
The Central Bureau of Statistics (CBS) reported last week that the unemployment rate declined to its lowest level in almost three years as an expanding economy led to the creation of new jobs.
 
The unemployment rate fell to 6.1% of the civilian labor force in January 2011 from 6.3% in December 2010. The unemployment rate was 7.1% in January 2010. The last time that the unemployment rate was at 6.1% was in March 2008.
 
The unemployment figure is consistent with many other macroeconomic figures, including GDP, the State of the Economy Index, consumption and export data, all of which indicate robust economic activity.
 
The Bank of Israel reported on March 17 that Israel’s index of leading economic indicators rose a preliminary 0.4% in February, led by exports of goods and services and manufacturing.