Economic refuge for young U.S. Jews

REUTERS Fed up with the tough job market, some young American Jews are choosing to wait out the recession in Israel, where the government heavily subsidizes their stay while they intern, learn Hebrew or volunteer.

According to Masa, a group that organizes programs to Israel and is partially funded by the Israeli government, participation is up 50 percent since the fall of 2008. Today, Masa has more than 1,500 Americans working in Israel.

Masa’s Aaron Goldberg said interest has been rising since the financial crisis, which gave them the idea for their “Israel: A Better Stimulus Plan” marketing campaign.

“Before the economic crisis, there wasn’t that impetus to look beyond the traditional career path,” said Goldberg, Masa’s director of recruitment. “Now there are less jobs and less internships, so this becomes a great way to add something to your portfolio.”

Jews are not the only ones seeking their fortune overseas. According to the Institute for International Education, the number of American students interning overseas has doubled since 2000 to more than 13,000 in 2008.

“In tougher times, people are taking a look at how they can develop themselves further,” said Paul Lakind, president of The Global Intern, a company in Randolph, N.J., that arranges internships in Israel, as well as England, China and Italy.