The seasonally adjusted unemployment rate in Israel remained unchanged at 4.3 percent in January of 2019, the highest since November 2017. The number of unemployed fell by 0.2 thousand to 175.4 thousand in January 2019 and employment rose by 1.7 thousand to 3,943.8 thousand compared to the previous month. By genders, the jobless rate was unchanged for both women (4.3 percent, the same as in December) and men (at 4.2%). In addition, the participation rate edge down to 64 percent in January from 64.1 percent in the prior month and the employment rate declined to 61.3 percent from 61.4 percent in December. A year ago, the unemployment rate was lower at 3.7 percent. Unemployment Rate in Israel averaged 6.81 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.