Over 1 million Israeli citizens, or nearly a quarter of the population, have lost their jobs as a result of the restrictions imposed by the government in light of the COVID-19 pandemic, media reported on Wednesday, citing the Israel National Employment Service (INES).
TEL AVIV (Pakistan Point News / Sputnik - 01st April, 2020) Over 1 million Israeli citizens, or nearly a quarter of the population, have lost their jobs as a result of the restrictions imposed by the government in light of the COVID-19 pandemic, media reported on Wednesday, citing the Israel National Employment Service (INES).
According to the Globes business news portal, since early March, INES has registered 843,945 new jobseekers, bringing the total of those unemployed to 1,004,316, which is 24.1 percent of the country's working population. A month ago, the unemployment rate in Israel stood at 4 percent, the publication said.
Most of those seeking a new job 89.7 percent were forcibly sent on unpaid leave, according to the news outlet.
Israeli professor of economics Avia Spivak told Globes that the loss of work by a quarter of the working population was a characteristic of the greatest crises in history, such as the Great Depression of the 1930s.
Israeli Prime Minister Benjamin Netanyahu said on Monday in an address to the nation that the government would allocate 80 billion shekels (about $22.5 billion) to support the national economy hit by the pandemic.
The number of confirmed coronavirus cases in Israel has grown to 5,591, while the death toll has increased by 4 to 21 over the past 24 hours, the country's Health Ministry said on Wednesday. Israel has been resorting to strict measures in order to stop the disease from spreading, including a ban on movement, as well as on having guests and gathering in groups of more than 10 people.
