Israel’s unemployment rate dropped to 4.6% in August, the lowest rate since the country adopted the OECD unemployment calculation formula in 1992, Israel’s Central Bureau of Statistics announced Thursday.

This is Israel’s sixth straight month of steady or falling unemployment levels, with the rate ticking down a tenth of a percent since July.

Israel’s labor force is composed of 3,932,000 million people above the age of 15, with 180,000 people unemployed. People serving in the IDF are counted as employed.

Full-time dropped slightly in August by 0.3%, while the number of those employed part-time, defined as working less that 35 hours a week, rose by 1.7%.

[Photo: Moshe Shai / Flash90 ]