Unemployment rates down to its lowest level in 21 years

The Central Bureau of Statistics noted that in the 4 years from May 2004 to May 2008 the number of jobless declined by 112,700 persons
 
The Central Bureau of Statistics (CBS) announced last Thursday that the May 2008 unemployment rates in Israel reached an unprecedented 21-year low, reaching 6.1% - or 178,800 unemployed individuals. The last time only 6.1% of the work force was jobless was in 1987.
 
The Central Bureau of Statistics also noted that in the four years from May 2004 to May 2008, the number of jobless declined by 112,700 persons.
 
The figures published by the Central Bureau of Statistics showing that unemployment rates are still steadily declining contradict market analysts who predicted that the recent slow-down experienced by the Israeli market may lead to layoffs.
 
The Bank of Israel and the Finance Ministry did, however, expressed concerns that the current trend has come to its end.