ISRAEL (VINnews) — The employment rate of Charedi men in Israel has reached a record high of 55.8 percent.
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The new data comes during a time of rising interest rates and inflation, which some may interpret as signifying economic turbulence.
The data, which appeared in a Central Bureau of Statistics file, is from the first half of 2023 and specifically involved adults aged 25-64.
The 55.8% statistic is a three-point increase over the Charedi male employment rate in 2019. Employment by Charedi women reached 79.3% in this year’s second quarter, though it is lower than the all-time high of about 83% at the end of 2022.
“Employment for Charedi women is consistently high,” said Gilad Malach, director of the Ultra-Orthodox in Israel program at the Israel Democracy Institute, as quoted in Times of Israel.
Employment by Charedi men is also rising in recent years, Malach said.
The increase in employment by Charedi men may be partially due to rising interest rates, which are driving up monthly mortgage payments.
Caredi families are especially susceptible to this, as they hold a higher share of the mortgage market and rely heavily on cheaper, variable-rate mortgages, according to Malach.
There has also been an annual inflation rate of about 4%, which has financially crushed many Charedi families.
That is great now if they would only fulfil their obligations to the Medina,
either military or National service.
What crazy laws? Please elaborate. Thank you
When you include all the Charedim working “Off-the-Books” it’s actually much higher.
Pls don’t overdo the gashmios like we’ve erred in North America
We need to help our brothers.
Imagine how many more would show up as working if the crazy laws of the country didn’t prohibit them from earning a living.