News Briefs

  Nissan 17, 5772 , 09/04/12

Labor Force Expected to Shrink 6% Over 20 Years

The Research and Economics Administration of the Industry, Commerce and Labor Ministry released a report, Monday, which said that the labor force in Israel is expected to decline six percent in 20 years if employment in the hareidi, minority and aging sectors remains at current levels. The report says two demographic trends will have a negative effect during that time. The lowering of the number of working-age people in the population after a 30-year increase, and an increase in the numbers of people from groups that have been characterized by low employment.

Minister Shalom Simchon said that increasing employment in the hareidi and minority sectors is a high priority of the ministry, explaining that without it, the country's Gross Domestic Product and standard of living will be harmed. The ministry noted that unemployment in the minority sector has shrunk an unprecedented 30 percent, from 21.5 percent in 2009 to 14.5 percent today. The ministry also cited the allocation of 1.5 billion shekels in the context of the Trajtenberg Committee Report on socio-economic change to advance employment in the hareidi and minority sectors.

Other archived news briefs:Apr 09 2012, 11:36 AM, 4/9/2012