Israel faces severe economic problems, experts warn

Tuesday, April 13, 2010 |  Israel Today Staff

A new study published by the Taub Center for Social Policy Studies warns that Israel is facing economic problems that it described as "severe and existential."

The 350-page report noted that because Israel is going through a period of relative economic success and stability compared to the problems experienced by other industrialized nations, most Israelis are not recognizing or doing anything about the nation's problems.

Ignoring those problems at this stage will only make them insurmountable. When Israelis finally wake up to the problems, it will be too late, the report warned.

The main issues impacting Israel's economy are poverty, education and inequality. These are issues all countries struggle with, but in Israel they are beginning to accelerate at a worrying rate.

More importantly is an apparent growing apathy among Israelis of working age. The study showed that 19 percent of Israelis between the ages of 30-54 simply aren't even looking for work. By comparison, non-employement numbers (not to be confused with unemployment numbers) in other Western countries is closer to 12 percent.

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