The seasonally adjusted unemployment rate in Israel decreased to 3.6 percent in May of 2019 from 3.8 percent in the previous month. It was the lowest jobless rate since January 2018, as the number of unemployed fell by 7.8 thousand to 149.6 thousand while employment declined by 14.6 thousand to 3,960 thousand. By genders, the jobless rate declined for both women (3.9 percent from 4.0 percent in April) and men (3.4 percent from 3.8 percent). Meantime, the participation rate edged down to 63.5 percent from 63.8 percent in April and the employment rate decreased to 61.1 percent from 61.4 percent. A year ago, the unemployment rate was higher at 4.0 percent. Unemployment Rate in Israel averaged 6.74 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 January of 2018.
Unemployment Rate in Israel is expected to be 3.70 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 4.20 percent in 2020, according to our econometric models.