Unemployed Israelis to Get Diamond Polishing Training
August 12, 09
The Israeli Ministry of Industry, Trade and Labor will help finance a professional training program for diamond polishers. The ministry program, to be implemented in 2009-2010, will train 100 unemployed to become polishers of “Excellent” level goods.
The Israeli diamond polishing segment is shrinking due to the high cost of labor, making it uneconomical to polish in the country lower priced diamonds. As a result, polishing activities in Israel focus on higher priced items, where the cost of labor is not prohibitive. These goods are less common and therefore many Israel traders moved their polishing activates to China and Thailand.
Another outcome of this situation is that very little new blood enters the few polishing facilities that still operate. Most of the polishers are in their forties or older.
The promise to help, made to leaders of the local diamond industry by Minister Benjamin Ben-Eliezer, will fill a large void. Not just in infusing new workers, but also where there is reportedly a shortage - polishers of Excellent level goods.
The Excellent standard represents the level of polishing, symmetry and proportions of a polished diamond. Polished diamonds that meet the excellent standard in all three parameters are known as Triple Excellent.
Minister Ben-Eliezer said that the program is part of a package of measures to aid the local diamond industry, which has been hard-hit by the world economic crisis. The Minister said that he has asked the Ministry of Finance to find specific solutions to help the diamond industry, and that progress has been made in the area of credit with the Finance Ministry and the Israeli banks.
Moti Ganz, chairman of the Israel Diamond Institute Group of Companies (IDI) and president of the Israel Diamond Manufacturers Association (IsDMA) said the training program is of great importance. “This program will expand the know-how and capabilities of the industry and will increase the export of Israeli diamonds, which are known for their high quality.”
Israel Diamond Exchange President Avi Paz thanked the Minister for his efforts. “The government must take every step in order to assist the industry during this difficult time,” said Paz, adding, that the highest priority is to receive government backed credit.