The Israel Cabinet has decided to allocate 500,000 pounds to public works projects in an effort to alleviate the unemployment problem which has been building up over the past few months, it was revealed here today.
The Cabinet’s decision followed a report by Mrs. Golda Myerson, Labor Minister, that nearly 11,000 workers were currently unemployed. The finds will be allocated from savings in the current budget. The government approach to the unemployment problem rejects doles and will concentrate on work relief projects along agricultural lines.
A special Ministerial committee has been appointed to work out plans for the establishment of a state bank “to carry out the government’s economic and financial policy.” These functions are now handled by the Israel National Bank–formerly the Anglo-Palestine Bank–which also serves as the exclusive bank of currency issue for the government. The agreement between the bank and the government has another year to run, and the state bank is expected to be established within that year.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
