The economic corona is exposed: the labor market has shrunk by 25,000 jobs


The economic corona is exposed: the labor market has shrunk by 25,000 jobs
Netanyahu at a cabinet meeting: We will bring a grant to every citizen to stimulate the economy (Photo: Government Press Office)
(In the video: The government approved the budget framework for the grants program, yesterday)

In the first quarter of 2020, the demand for workers in Israel shrank by 25,000 jobs, according to data from the Labor Force Survey and Vacancies conducted by the Central Bureau of Statistics, which are published today (Monday). This is as a result of the consequences of the corona epidemic and the economic crisis that accompanied it.

Thus, while in the fourth quarter of 2019 the average number of job vacancies was 98.9 thousand, in the first quarter of the current year the figure dropped to only 73.9 thousand jobs. The number of vacancies among managers also decreased, from 1,900 in the last quarter of 2019 to 1,700 jobs on average in the first quarter of the current year.

Number of job seekers for each position

In the analysis of the data that the ratio between supply and demand, i.e .: between those seeking to work and the vacancies, increased from 3.5 employees per job in the last quarter of 2019 to 4.4 employees per job in the first quarter of 2020.

In some professions, the ratio of supply to demand is particularly high. Thus, in professions such as production managers and managers in the field of professional services, professionals in the fields of science and engineering, accountants and similar professionals, related professions in the fields of law, society and culture and among secretarial (general) employees, there are more than five job seekers. However, among software developers, the ratio of demand is lower than one, i.e .: the number of jobs is higher than the number of job seekers.

The average number of vacancies

The employment service currently has 859,994 jobseekers, of whom 575,790 are in the IDF. The overall unemployment rate is 21.2%.

In the last day, 1,332 people reported returning to work, but on the other hand, the number of new employees was much higher – 4,685. In all, since the beginning of the easing of the economy in the previous wave of illness, in mid-April, 406,327 people have reported returning to work, and at the same time, 168,704 new job seekers have been registered.

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