The seasonally adjusted unemployment rate in Israel decreased to 4.1 percent in February of 2019 from a downwardly revised 4.2 percent in January. It was the lowest jobless rate since September 2018, as the number of unemployed fell by 4.1 thousand to 170.3 thousand and employment rose by 18.8 thousand to 3,965.8 thousand. By genders, the jobless rate declined for both women (4.2 percent from 4.3 percent in January) and men (4.0 percent from 4.2 percent). In addition, the participation rate edged up to 64.2 percent in February from 64.0 percent in the prior month and the employment rate increased to 61.5 percent from 61.3 percent in January. A year ago, the unemployment rate was lower at 3.9 percent. Unemployment Rate in Israel averaged 6.79 percent from 1992 until 2019, reaching an all time high of 11.40 percent in March of 1992 and a record low of 3.60 percent in March of 2018.
Unemployment Rate in Israel is expected to be 3.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Israel to stand at 3.50 in 12 months time. In the long-term, the Israel Unemployment Rate is projected to trend around 4.90 percent in 2020, according to our econometric models.