Bank of Israel Presents 2015 Report: Unemployment at “Historical Low”

Jerusalem, 3 April, 2016 (TPS) -- Governor of the Bank of Israel Karnit Flug presented the Bank’s 2015 annual report to Prime Minister Benjamin Netanyahu on Sunday morning, April 3.

“I would like to say that as a whole, the economy is in reasonable condition, considering the tough global environment,” said Flug. “The labor market is in a good situation in general, unemployment is low, wages have increased, and this allows us to focus on what is more important like the long term and the next budget.”

Netanyahu thanked Flug and commented that he was “glad to hear we are at a historical low in unemployment, causing the wages to rise. This is important, but we need to also increase the economic growth.”

“This is why we started historic negotiations about a free-trade agreement with China, which will significantly increase the export,” added Netanyahu. “We are also discussing a preferential trade agreement with Japan.”