As growth of Israel's labor force sputters, government warns of long-term economic fallout
A dangerous cocktail of retiring baby boomers, aging immigrants from the former Soviet Union and shifting demographics is brewing, which bodes ill for Israel's economic future and for the state budget.
The Israeli labor force growth is shrinking and as a result the economy's long-term growth is in danger, according to the Central Bureau of Statistics's recently updated long-term demographic forecast for the Finance Ministry. The crisis in the labor force and multi-year growth has already begun, the CBS says, and is forecasted to reach a troubling crescendo in 2019.
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