The unemployment rate in Israel dropped to 2.9% in the first half of April from 3.7% in March.

According to a report in the Israeli business daily Globes, the Central Bureau of Statistics reports a 50-year-low unemployment rate in April with 120,000 job seekers and 150,000 vacancies.

According to the report, the high number of job openings is likely to lead to higher salaries.

The Bank of Israel projects a 3.5% unemployment rate by 2022.

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