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September 03, 1993 - Image 41

Resource type:
Text
Publication:
The Detroit Jewish News, 1993-09-03

Disclaimer: Computer generated plain text may have errors. Read more about this.

Thanks Billions!

(Actually More, But We
Lost Count Decades Ago)

Unemployment, Not Inflation
Is Enemy Of The Poor

The rise in Israel's unem-
ployment contributes more
to the inequality of income
distribution than inflation,
according to a new study
released by the Bank of
Israel.
The study, by economist
Momi Dahan of the central
bank's research division,
shows that low-income indi-
viduals bear most of the
brunt of both unemploy-
ment and inflation.
In recent years, unem-
ployment has been the lead-
ing reason for the increas-
ing inequality in income
distribution.
Mr. Dahan notes that the
positive connection between
inflation and income
inequality proves the inabil-
ity of low-income wage
earners to be spared wage
erosion despite cost-of-liv-
ing adjustments.
These agreements have
failed to prevent inequali-
ties from growing as infla-
tion increased.

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Mr. Dahan explains that
while the cost of living
adjustment is the only
means low-income earners
have to mitigate wage ero-
sion, high-income individu-
als benefit from other pro-
tective mechanisms - such
as personal contracts or
strong professional trade
unions.
Mr. Dahan also shows
that transfer payments,
such as National Insurance
Institute allowances, work
to reduce income inequali-
ties. By contrast, expanding
the size of the public sector
increases those inequalities.
The study found the min-
imum wage did not signifi-
cantly reduce the inequali-
ties among wage earners,
despite its intent to mini-
mize those differences.
The opening of the econo-
my after 1967 to workers
from the territories did not
have an impact on income
inequality, the study main-
tains.

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Symbol Name

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ntIsti
12-4

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SCIXF

Scitex

NASDAQ

8

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NASDAQ

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IEC

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NYSE

'25.00

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+1'0.88

ELBTF

Elbit Computers NASDAQ

'31.75

'34.00

+1.25

ELT

Elscint LTD

'4.88

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+"0.12

ELRNF

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NYSE

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NYSE

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'33.38

+'3.88

CMVT

Comverse

NASDAQ

95.38

'14.63

-1'0.75

LANTF

Lannet Data

NASDAQ

92.13

92.50

+'0.37

Source: Allen Mender, Prudential Securities,
West Bloomfield.

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