Wednesday, January 05, 2005

High Unemployment

Since the hi-tech crash and the start of the intifada in 2000, unemployment has generally been on the rise in Israel.

During 2004 the unemployment rate has dropped from 10.8% to 10.1% according to an article published 23rd December in Globes. I found it interesting to read today that the unemployment rate in Germany, certainly one of the world's stronger economies has surged to 10.8% - the same level as Israel had this time last year.

I don't know whether this tells us anything other than that when people talk about high unemployment in Israel, they need to realise that it can be just as bad, if not worse elsewhere.


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