The number of vacancies in Israel decreased from 135,300 in February 2023 to 130,898 in March 2023, according to the Central Bureau of Statistics report. This is the lowest number since April 2021.
The downward trend follows an increase in the number of vacancies during 2021 and the first half of 2022, as it peaked at more than 150,000 jobs in the middle of last year. However, the current number of vacancies is higher than it was in 2019 when the figure reached 100,000.
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Vacancies in Israel continue to decline
The large drop in job vacancies is due to the global economic slowdown that includes a spike in interest rates over the past 12 months, which has affected a tight labor market, and is one of the main causes of higher inflation.
The ratio of vacancies to the total number of employed persons is also declining. In March there were 4.17 jobs per 1,000 employees compared to 4.27 in February. According to the Central Statistical Organization, “This estimate reflects an 18% decrease in the job vacancies rate compared to March 2022 when the figure was 5.05.” These numbers are based on a survey of companies with five or more employees.
Highest number of vacancies for sales staff, as there has been a huge shortage since the covid pandemic. In this sector there were an average of 11,468 vacancies between January and March.
10% of Israel’s 370,000-strong workforce is employed in the technology industry, although the number of software developer vacancies fell 3% in March to 6,138 from an average of December 2022 to February 2023. This number peaked at 13,720 between January and March 2022.
Published by Globes, Israel business news – en.globes.co.il – on April 23, 2023.
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