The seasonally adjusted unemployment rate in Israel decreased to 3.9 percent in March of 2019 from 4.1 percent in February. It was the lowest jobless rate since March 2018, as the number of unemployed fell by 6.9 thousand to 163.4 thousand and employment rose by 14.8 thousand to 3,981 thousand. By genders, the jobless rate declined for both women (4.0 percent from 4.2 percent in February) and men (3.9 percent from 4.0 percent). In addition, the participation rate remained unchanged at 64.2 percent and the employment rate increased to 61.7 percent from 61.5 percent in February. A year ago, the unemployment rate was lower at 3.6 percent. Unemployment Rate in Israel averaged 6.78 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 3.70 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 4.90 percent in 2020, according to our econometric models.