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More Israeli Workers Being Hired Than Fired
(AP/Jerusalem Post) Israeli manufacturers hired more workers than they fired toward the end of 2003, a sign the Israeli economy is crawling out of a slump, the Manufacturers Association said Tuesday. The Central Bureau of Statistics reported Monday that the economy grew by 1.3% in 2003. "In the last months of 2003, we saw a sharp rise in industrial production...especially in the high-tech sphere," said Nira Shami, an economist with the Manufacturer's Association. The Israeli economy showed 6% growth in 2000, before Mideast violence and the collapse of the high-tech sector plunged the nation into recession. The Finance Ministry predicts 2.5% growth for 2004.