Israel announces emergency plan to tackle augmenting unemployment rate

With nations across globe undergoing complete lockdown so as to curb the spread of the pandemic COVID-19, its impact on country’s economy is far and wide especially for developing nations. As a measure to tackle the issue of unemployment, the Israel Employment Service has announced an emergency plan for the labour market.

The move has been taken to tackle the surge in national unemployment rate that has jumped more than five times in the month of March. Based on measures taken on international level, the emergency plan for the labour market will have four support paths. These include- strengthening skills of unemployed people, bringing workforces at unpaid leave back to their workplaces, rapid placement of workers in new workplaces and a full vocational training, for those expected to be unemployed for a long time.

Per the statistics provided by the Israel Employment Service, the unemployment rate has jumped from four percent to 22.6 percent, since the beginning of March. The surge could be mainly attributed to the global crisis created as a result of the pandemic. The bureau reports states, since March 1 about 781,608 Israelis have applied for unemployment benefits.

Per the records, Israel currently hosts more than 939,000 unemployed peoples that is to expected to reach a million in less than two weeks.

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