Economically, austerity proved a failure, mostly due to the enormous government deficit, covered by bank loans, creating an increase in the amount of money use. Throughout austerity unemployment remained high, and inflation grew as of 1951. Yet austerity did have its advantages – living standards were preserved at tolerable levels, while the resources saved were made available to feed and clothe and shelter the entire population adequately, while at the same time integrating and successfully resettling over 700,000 Jewish refugees from European, Arab, and Muslim lands.