Israel’s unemployment rate rose to 6.6 percent in the third quarter, as the number of people entering the workforce outpaced the amount of jobs created.
The jobless rate increased from a revised 6.4 percent in the previous three months, the Jerusalem-based Central Bureau of Statistics said today on its website. Unemployment a year earlier was 7.7 percent.
“Nobody should interpret the slight uptick in unemployment as any sign of a slowdown in growth, because overall the numbers are positive,” said Jonathan Katz, a Jerusalem-based economist for HSBC Holdings Plc.
Israel bounced back from the global recession faster than many developed economies, and is expected to expand 4 percent this year, the bureau said on Oct. 17. That compares with a projected 1.7 percent expansion in the European Union and 2.6 percent in the U.S., according to the International Monetary Fund.
The overall number of employed people increased to 3 million from 2.9 million, and the percentage of the population joining the workforce rose to 57.8 from 57.1.
“These are signs of a robust economy,” Katz said.
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