Unemployment in Israel has fallen to an all-time low, the country’s Central Bureau of Statistics said Monday.

According to the bureau’s data, the April jobless rate was just 4.9 percent, below the psychological threshold of 5 percent. Unemployment among men dropped from 5.2 percent in March to 4.9 percent in April, and unemployment among women dropped from 5.4 percent to 4.7 percent in the same months.

The report also said the number of employed Israelis reached an all-time high in April of 60.9 percent, or 3.64 million, and the workforce now numbers 1.9 million men and 1.74 million women. Workforce participation in March was 60.2 percent.

A CBS survey held among 21,900 Israeli adults said that during the first fiscal quarter of this year, unemployment among men was 5.1 percent, while the jobless rate among women was 5.5 percent. According to the survey, for the first time is Israel’s history, unemployment among those ages 25-64 dropped below 5 percent—4.7 percent among men and 4.8 percent among women.

Meanwhile, the first phase of a minimum-wage hike ordered by Israeli Prime Minister Benjamin Netanyahu last December came into effect the last week of April, raising the minimum wage in Israel from 4,300 shekels ($1,115) to 4,650 shekels ($1,205).

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