Unemployment rate fell to 5.5% in the second quarter

The Central Bureau of Statistics (CBS) reported last week that in the 2nd quarter of 2011 (April-June) Israel's unemployment rate continued to decline dropping to 5.5% compared to 6% in the first quarter.
 
The number of persons in the civilian labor force was 3.202 million. Of these, 3.027 million were employed and approximately 175,000 were unemployed.
 
Among the employed persons, 1.601 million were males (1.578 million in the previous quarter), and 1.426 million were females (1.418 million in the previous quarter).
 
These figures were published by the Central Bureau of Statistics from the ongoing labour force survey.
 
The participation rate among persons aged 15 and over in the civilian labor force in the 2nd quarter of 2011 was 57.5% (57.4% in the previous quarter). Among males, the rate reached 62.3% (62.2% in the previous quarter), and among females - 52.8% (52.9% in the previous quarter). The unemployment rate among persons aged 15 and over, out of the total civilian labor force, declined in the 1st quarter of the year to 5.5% (compared with 6.0% in the previous quarter). The unemployment rate of males declined to 5.5% (compared with 6.2% in the previous quarter), and that of females declined to 5.4% (compared with 5.7% in the previous quarter).
 
To be noted that, as of the 3rd quarter of 2009 unemployment rate of females is lower than unemployment rate of males.
 
Finance Minister Yuval Steinitz reacted to the news, stating, "The policy steps we have taken over the past two years continue to show results. The continued historic trend of lowered unemployment is especially striking against the backdrop of the volatility of world markets. The Israeli economy is demonstrating economic stability, and we must maintain it through a responsible budgetary policy, as we have done up to now."