Italy Unemployment Rate Falls to Over 5-Year Low

Italy's seasonally adjusted unemployment rate edged down to 10.8 percent in December 2017 from a downwardly revised 10.9 percent in the previous month and below market expectations of 10.9 percent. It was the lowest jobless rate since August 2012.

The number of unemployed fell by 47 thousand from the previous month to 2.791 million in December. Also, employment declined by 66 thousand to 23.067 million while those detached from the labour force rose by 112 thousand to 13.440 million.

Youth unemployment rate, measuring job-seekers between 15 and 24 years old, dropped to 32.2 percent from a revised 32.4 percent in November, its lowest since January 2012.

The country's overall employment rate, one of the lowest in the Euro Area, fell to 58 percent in December from a revised 58.2 percent in November.

In the October-December period, 16 thousand jobs were added to the economy from the previous three months, all of them temporary contracts, while the number of people on permanent contracts fell.

Italy Unemployment Rate Falls to Over 5-Year Low

Istat | Joana Ferreira |
1/31/2018 9:30:44 AM