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The unemployment rate has dropped to a 13-year low in the first fiscal quarter of 2008, Central Bureau of Statistics figures revealed on Wednesday.

Since the beginning of the fiscal year, unemployment has dropped by 0.4% to 6.3% of the workforce.

The number of employees in total has risen by 4.3%, comparing to the first quarter of 2007. 58.6% of all men are employed, as opposed to a mere 47.8% of women.

The most dramatic rise in the number of employees, 5.6%, was among university graduates, followed by 5.5% among business executives.

With 4.9%, the lowest unemployment rate was registered in central Israel, as opposed to 7.3% in the south.