The unemployment rate in the CBS ‘expanded calculation decreased very slightly, from 19.1% in the second half of January to 18.2% – which is 744,000 people in the first half of February.
This is according to unemployment data for the first half of February, which is published today (Monday) by the Central Bureau of Statistics based on the results of the Labor Force Survey.
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That is, the very high level of unemployment remained in the first half of February, although by this time the opening of the economy had already begun. The unemployment rate in the limited calculation used by the Treasury also fell very slightly from 16.3% to 15.5%.
It therefore appears that the significant decline in unemployment following the end of the closure will be reflected mainly in the second half of February and the first half of March.
The CBS publishes three main unemployment figures in the Corona period: The percentage of unemployed (unemployed in the classic definition – people without a job looking for work) rose from 3.9% in the second half of January to 4.6%, which is 183,000 people, in the first half of February. This figure is of very little significance in the Corona period because of the large number of people in the IDF as well as of people who were fired and did not look for work. This, whether because of the assumption that it is not possible to find work or because of the unemployment benefits that are given until June. In addition, the half-monthly figure of the unemployed is subject to large and unexplained fluctuations. In any case, it is very difficult to rely on it to estimate the number of job seekers without an employer in the economy.
The percentage of unemployed plus missing persons each week surveyed from their work dropped from 16.3%, which is 650,000 people, to 15.5%, which is 616,000 in the first half of February. The definition of missing persons in each week of the survey from their work should locate those who are on unpaid leave. The unemployed plus the missing all week This is the narrowing figure through which the Ministry of Finance measures unemployment. According to the law, when the figure reaches 10%, the level of unemployment benefits has dropped to 90%. Alternatively, the law stipulates that the payment of unemployment benefits to the unemployed Corona will continue until June 2021.
The CBS ‘expanding figure includes the unemployed, people who were absent from work all week, and people who lost their jobs during the Corona period and are not looking for work. This is the figure closest to the situation on the ground. In the second half of January to 18.2% which is 744 thousand people in the first half of February.