ISRAEL - Israelis Earn Less Than Other Comparable Countries

Arno Froese

Israelis make less money per hour than those in most comparable OECD countries, according to a report released by the Bank of Israel.

The document, prepared by BoI’s Yuval Mazar, is part of a larger study, “Selected Policy Analyses and Research Notes,” which is expected to be released soon. It compares Israel against Belgium, the Czech Republic, Denmark, Spain, Estonia, Finland, France, the United Kingdom, Greece, Ireland, Italy, Japan, Korea, the Netherlands, Norway, Poland and Slovakia—countries for which there is appropriate data from the Program for the International Assessment of Adult Competencies survey.

The gap between Israel’s top 10% richest people and those in the top 10% in other countries is smaller than among those in lower earning percentiles, the report noted. Furthermore, Israel’s top earners in many cases actually earn more per hour than those in the comparison countries.

The skills gap between Israel and other countries at lower wage levels is described as “very wide” by Mazar. He said that this makes skills the dominant factor correlated with wage gaps between Israel and other OECD countries.

-www.jpost.com, 25 September 2019

Arno's commentary

Work more, earn less is prevalent in countries granting increased opportunities for the wealthy.

Israel’s intellectual capacity is growing by leaps and bounds, with high-tech firms listed in stock exchanges in second place, after the US only.

The richest 10% of Israel’s population consume 31.3% of its earnings, while the lowest 10% received only 1.7%. By comparison, in the US, the high-income group gets 30% and the low-income group gets 2%. When compared with Switzerland, not listed in the study, it is quite revealing that the lowest 10% consume 7.5% of the national product, while the highest 10% consume only 19%. No wonder Switzerland is such a peaceful country with virtually no crime, when compared with others.

However, Israel is incomparable with any other nation. When it come to the future, we read the following in Romans 11:12: “Now if the fall of them be the riches of the world, and the diminishing of them the riches of the Gentiles; how much more their fulness?” Isaiah 61:6 confirms: “But ye shall be named the Priests of the Lord: men shall call you the Ministers of our God: ye shall eat the riches of the Gentiles, and in their glory shall ye boast yourselves.”

Arno Froese is the executive director of Midnight Call Ministries and editor-in-chief of the acclaimed prophetic magazines Midnight Call and News From Israel. He has authored a number of well-received books, and has sponsored many prophecy conferences in the U.S., Canada, and Israel. His extensive travels have contributed to his keen insight into Bible prophecy, as he sees it from an international perspective.

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