RAMP.Global’s agency network makes it easier for employers to identify and procure talent from 23,000+ staffing agencies in over 100 countries.
COUNTRY SEARCH:
Israel
- Recruitment landscape
- Economic indicators
- Labor market
- Working life
Your global agency guide to...
Israel
Israel, with a GDP of $509.9 billion, ranks as the 28th largest economy globally. Key industries include high-tech products, pharmaceuticals, and cut diamonds. A low unemployment rate of 3.4% indicates a robust labor market. Israel has a balanced workforce participation with gender parity and a medium number of recruitment agencies.
Israel'S
AGENCY LANDSCAPE
500
Agencies operating in Israel
A high number of agencies indicates a mature recruitment industry, marked by strong talent demand, established labor laws and economic stability.
16-20%
Typical fee range
Countries with higher fees imply finding talent is harder to find whilst lower fees indicate a high-volume, commoditized market.
Israel'S
FEATURED AGENCIES
Adecco Group
Manpower Group
Get featured here
Israel'S
GROSS DOMESTIC PRODUCT (GDP) RATING
28
WORLD RANKED
Israel ranks 28th in the world by current economic output
$510B
NOMINAL GDP (US$)
GDP reflects the overall size and economic strength of the country’s economy.
16
EMEA RANKED
Israel is the 16th biggest GDP in EMEA out of 109 countries in the region
GDP GROWTH (%)
The above chart compares how Israel's GDP has grown, compared to the rest of the world and the EMEA region in the last 7 years.
Positive growth indicates an expanding economy, while negative growth or recession signifies economic contraction. Strong growth can encourage hiring, but slower growth might lead to freezes or layoffs, influencing talent sourcing as businesses adapt to changing market conditions and demands.
Israel'S
CURRENCY AND CODE
₪
Country currency
ISR
Country ISO code
Israel'S
INFLATION RATE
2.4%
CURRENT RATE
▼1.8% REDUCTION
Inflation represents the rate at which prices rise and purchasing power diminishes. High inflation may prompt employees to seek higher wages, potentially impacting company profitability. This situation could lead to budget constraints or hiring freezes, which might influence talent availability and sourcing strategies.
Israel'S
COST OF LIVING
COST OF LIVING INDEX EXPLAINED
The cost of living has a direct impact on salary expectations and the competitiveness of compensation packages. It can influence the appeal of certain locations-while high-cost areas may attract highly skilled professionals looking for higher salaries, lower-cost areas can appeal to companies looking to minimize salary expenses or candidates seeking a better work-life balance.
Israel'S
LABOUR STATISTICS
9.1M
POPULATION
With a population of 9,140,500, Israel is a small sized country by global standards. Israel's youth population is close to the world average, suggesting a consistent influx of new workers, but may not see any significant growth. The working population in Israel is close to the world average, suggesting a stable labor market that can adequately meet the economy's demands. Israel's elderly population is close to the world average, suggesting a manageable dependency ratio, where the working-age population can effectively support the elderly.
Israel'S
RELIGION AND ETHNICITY
Religion
In religiously diverse countries, a broad sourcing and engagement approach whilst appealing to inclusive practices resonates with this candidate market. In contrast, in a homogeneous religious environment, understanding dominant cultural norms is often more important when engaging with talent.
Ethnicity
In ethnically diverse countries, there may be a greater variety of candidates with different cultural backgrounds and experiences. Employers may need to focus more on inclusive hiring practices to ensure they attract talent from across different ethnic groups.
Israel'S
UNEMPLOYMENT RATE
3.4%
CURRENT PERCENTAGE
▼0.31% REDUCTION
Israel's unemployment rate is healthy, indicating a well functioning labor market with good job opportunities for most people. Between 2022 and 2023, there was a small decrease in unemployment, suggesting continued economic stability with a slight improvement in job availability
Israel'S
TOP PERFORMING INDUSTRIES
Top industries
High-technology products (including aviation
Pharmaceuticals
Cut diamonds
Israel'S
GENDER DEMOGRAPHICS
RATIO OF MALES TO FEMALES (BY AGE)
LABOUR PARTICIPATION BY GENDER (%)
69
/
61
Male | Female
In Israel there is a low gap in participation rates between males and females, indicating a relatively balanced workforce particpation often reflective of strong gender equality policies or cultural norms supportive of equal gender parity.
Israel'S
WORKING LIFE
$49K
Average gross annual wage (US$)
This figure represents yearly income before taxes. Higher wage countries are above $50,000 USD. Attracting talent in lower-wage markets can be cost-effective; however, offering above-average compensation may be required for in-demand skills.
$4.1K
Average gross monthly wage (US$)
This figure represents monthly income before taxes. Higher-wage countries typically exceed $4,000 USD per month. Attracting talent in lower-wage markets can be cost-effective; however, offering above-average monthly compensation may be necessary for in-demand skills.
Israel'S
WORKING LIFE
11DAYS
Minimum annual holidays
Minimum annual holidays reflect mandated leave. Hiring in countries with high allowances (over 25 days) will require emphasizing work-life balance when recruiting. In countries with fewer holidays (under 15 days), offering additional leave can enhance recruitment and set the organization apart.
42HRS
Average working full time week
Standard work hours are 8.4 hours daily, 42 hours weekly, Sunday to Thursday. Hourly wage earners receive mandatory overtime pay, while salaried employees don't. The overtime limit is 12 hours daily, 16 weekly, at 125% pay for the first 2 hours, and 150% thereafter.
Israel'S
TOP BENEFITS
26WEEKS
Maternity leave
Maternity: Up to 26 weeks for long-term employees, 15-8 weeks allowance based on insurance payments. Max ILS 1,485.83/day. Paternity: 1 month paid, with conditions. No parental leave law in Israel.
1.5DAYS
Sick leave
Employees earn 1.5 paid sick days monthly, with up to 18 days per year. Day one is unpaid; days 2-3 are paid at 50% and beyond at 100% by the employer. Unused sick leave can be accumulated up to 90 days over five years.
COUNTRY SEARCH
