Israel sees 32% drop in high-tech jobs since beginning of 2022

The number of jobs available for engineers in Israel during September-November was just 11,800, down eight percent from the number of vacancies posted during August-October, according to the Central Bureau of Statistics.

Demand for developers also fell by nine percent with only 7,748 offers from September to November. The wave of high-tech layoffs that began in the middle of the year intensified after the Jewish holiday period in Israel (October).

The pay nevertheless continues to attract Israelis. The average salary in the high-tech sector is around $7,700 per month, according to CBS, while for the management's salary can easily reach $14,300.

Meanwhile, job vacancies in information and communication fields stood at 21,160 jobs in January and peaked at 21,500 jobs in February. From that point on there was a sharp drop of 32 percent with only 14,600 job offers as of last month.

Last week, more than 400 Israeli tech workers signed a letter to prime minister-designate Benjamin Netanyahu warning him that policies which his incoming government wants to pursue are likely to harm the industry and scare away foreign investment. The tech sector accounts for nearly 25 percent of Israel's total tax revenue and for about 10 percent of the labor force.