JERUSALEM (Oct. 5)
Despite a substantial increase in immigration during the first six months of this year, Israel is enjoying virtually full employment and even a slight labor shortage, the Government reported today. The total employed persons grew by four percent in the January-June period which was marked by an increased immigration. There was also a seven percent decline in the number of Jobless.
All but the chronically unemployable or persons hard to place in employment have Jobs, the report indicated. Since the start of the year, government employment agencies have been called on to fill an average of 1,500 jobs a month, including jobs for semi-skilled and unskilled workers and placements continue to lag behind demand for workers.
Income tax receipts rose by 17 percent during the first six months of this year despite lower rates which have been in effect since 1960, the Israel State Bank reported today.
More efficient collection methods were credited for the increase. Although salaries have increased by 12 percent in Israel since 1960, not all of the increase was taxable in come. The bank pointed out that part of the increase was linked to the cost of living index and that increases based on higher indexes are exempt from income taxes.