1,350 industrial workers were fired in January-April.
July 09, 2003
The state of industry continues to be difficult, with 1,350 lay-offs in the January-April 2003. Average employment in this period was down 0.4%, compared with the fourth quarter of 2002, according to the Manufacturers Association of Israel Economy Division.
The number of work hours declined 0.9% in January-April, while industrial productivity was up 0.9%, after rising 0.4% in the fourth quarter of 2002, and falling 1.3% in the third quarter of last year.
Manufacturers Association statistics and economic analysis division director Nira Shamir expects some recovery in industry producing for the local market, following the anticipated improvement in the political and security situation. The recovery will be accompanied by a moderate growth in exports.
The analysis also indicates that industrial lay-offs continued in January-April, continuing the two-year decline in employment. The 0.4% drop in employment follows a 0.3% fall in the fourth quarter last year, and 2.4% in all of 2002.
Email This Page!