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Israel's employment landscape in 2023 showcases education as the leading sector, employing over ** people. This figure will need to continue to grow in the future if the education system will meet with the country's projected growth in student enrollment, expected to double by 2060. Following education, the health and social work sector follows closely, employing just over ** Israelis, reflecting the nation's expansive healthcare system and mandatory insurance policy.

Labor force participation and unemployment trends

Despite a challenging geopolitical condition, the local employment market continues to demonstrate resilience. In 2023, labor force participation reached approximately ** percent for men and ** percent for women aged 15 and older. Concurrently, the country experienced a decreasing rate of unemployment, reaching its lowest level in recent years. This positive trend extended to youth unemployment, which stood at just over *** percent in 2023.

Technology sector hiring slows

While education and healthcare dominate employment figures, Israel's important technology industry continues to grow, albeit at a slower pace. In 2023, the sector added about * workers, reaching nearly ** employees. However, this represented a significant drop in new hiring compared to the previous year. Factors such as a slowing of global venture capital markets and a controversial government-led judicial reform impacted the industry's expansion.