An ominous report published by Israel’s Central Bureau of Statistics on Thursday predicts that one in five businesses (19 percent) are not likely to survive past December due to the damage inflicted on the economy caused by the coronavirus pandemic.
The report also noted that 79 percent of businesses have seen a severe drop in revenue amounting to 25 percent in losses in August alone.
The data reveals that 11.5 percent of the country’s workers have lost their jobs since the crisis began in March. An additional 6.4 percent of the nation’s workforce is currently on unpaid leave – amounting to some 850,000 people who are unemployed.
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