In Israel, the employment rate among Charedi men has risen to a record high of 55.8%.
The new numbers were released at a time when inflation and interest rates are on the rise, which some people may perceive as a hint of economic unrest.
The information, which was found in a Central Bureau of Statistics file, relates specifically to persons between the ages of 25 and 64 and dates from the first half of 2023.
The figure of 55.8% is a three-point increase from the employment rate of Charedi men in 2019. Charedi women’s employment rates reached 79.3% in the second quarter of this year, a decrease from the all-time high of nearly 83% at the end of 2022.
According to Gilad Malach, director of the Israel Democracy Institute’s study on the Ultra-Orthodox in Israel, “Employment for Charedi women is consistently high,” as reported in the Times of Israel. Male Charedim have been working more recently, according to Malach.
The rise in interest rates, which are increasing monthly mortgage payments, may contribute in part to the growth in employment among Charedi men.
According to Malach, Caredi families are particularly vulnerable to this because they have a larger proportion of the mortgage market and frequently use lower-cost, variable-rate mortgages.
A 4% yearly inflation rate has also been present, which has severely hurt the finances of many Charedi households.