Unemployment in Israel
Israel - UnemploymentThe economy likely lost puff in the second quarter, after a surge in Q1 which was partly driven by a frontloading of car purchases ahead of green tax changes. The Central Bank’s State of the Economy Index averaged notably lower in Q2, while merchandise exports contracted throughout the period, against the backdrop of a stronger shekel and global trade tensions. However, the labor market likely provided support; the unemployment rate fell to an over one-year low in May, while real wage growth was perky in April. Moreover, business sentiment was firm despite election-related uncertainty, while the manufacturing PMI averaged higher than in the first quarter. In politics, the cabinet approved spending cuts in late June, in response to a budget shortfall which ballooned in H1. However, the measures are unlikely to put a significant dent in the fiscal deficit, which is seen staying sizeable this year and next.
Israel - Unemployment Data
5 years of economic forecasts for more than 30 economic indicators.
Israel Unemployment Chart
Source: Central Bureau of Statistics
|Bond Yield||1.34||-1.69 %||Jul 31|
|Exchange Rate||3.50||-0.37 %||Jul 31|
|Stock Market||1,514||-0.91 %||Jul 31|
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July 23, 2019
The Bank of Israel’s Composite State of the Economy Index rose 0.23% in June, up from May’s revised 0.14% increase (previously reported: +0.13% month-on-month).
July 21, 2019
The Purchasing Managers’ Index (PMI), produced by Bank Hapoalim and the Israeli Purchasing & Logistics Managers Association (IPLMA), rose from 50.4 in May to 52.7 in June, moving further above the neutral 50-point mark separating expansion from contraction in the manufacturing sector. The change in the headline figure was driven by stronger domestic demand, while export orders continued to shrink.
July 15, 2019
Consumer prices fell 0.6% in June over the prior month, contrasting May’s 0.7% increase, amid lower prices for fresh fruit and vegetables, and clothing and footwear.
July 11, 2019
Merchandise exports contracted 8.3% year-on-year in June in USD terms, coming after May’s revised 13.4% decline (previously reported: -8.5% yoy), and against a backdrop of elevated trade tensions and waning global momentum.
July 10, 2019
Confidence among Israeli households worsened from minus 9 in May to minus 14 in June.