Israel’s bicycle repair industry is booming, and with its high price tag, it’s a great place to work, but the labor force in the country is ageing.
A recent study by the Hebrew University of Jerusalem, which is part of the Israeli Academy of Sciences, found that the average age of the workforce was 55 years old, with about three quarters of workers over 65.
While that’s a lot of years to retire, the study notes that the majority of the work force was under 35.
The study found that a significant proportion of workers were in the manufacturing, construction, and transportation industries, with the construction industry accounting for almost 80 percent of the country’s work force.
A survey conducted by the Association of Israeli Industries, however, found a different picture.
“We are not seeing a significant increase in the number of workers under 35 in our sectors, despite the fact that we have a large number of young people who want to join the workforce,” said Rafi Tzemach, executive director of the association, according to The Times of Israel.
Tzemak said that the reason was that Israeli companies were hiring older workers and paying them less.
He added that the increase in work force age was also linked to the rise in car ownership.
According to a survey by the Knesset Committee for the Economy and Competitiveness, the average labor age for Israeli workers has increased from 46 to 52.
Another survey conducted last year by the Israel Chamber of Commerce and Industry showed that the number working in the retail and service industries has grown from 3,800 to 6,000.
But while the labor market is expanding, some sectors of the economy have been stagnating.
In addition to the construction, the country has suffered a sharp slowdown in the economic growth rate.
Between 2005 and 2014, Israel’s GDP increased by only 1.4 percent, but in 2015 the growth rate increased by 8.1 percent.
It’s no wonder that the labor markets are not booming as more and more Israelis are working longer hours than they could ever do, and are finding it harder and harder to afford a house.