Italian Unemployment Rate Up to 12.2% in May

Italy's seasonally adjusted unemployment rate rose to 12.2 percent from 12.0 percent the previous month, hitting a new high. Italy's youth jobless rate eased to 38.5 percent in May from a downward revised 39.9 percent in April.

In May, the number of persons out of work in Italy stood at 3.14 million, an increase of 1.8 percent when compared with April (+56 thousand) and of 18.1 percent from a year earlier (+480 thousand). In the group age of 15 to 24 years-old, 650 thousand people were unemployed.

The employment rate was 56.0 percent meaning 22.58 million persons were in employment. This represents a decrease of 0.1 points over the previous month (-27 thousand) and of 1.0 point from May of 2012 (-387 thousand).

The inactivity rate stood at 36.1 percent, down by 0.1 percentage points month-on-month (-35 thousand) and by 0.3 percentage points year-on-year (-127 thousand).

Italian Unemployment Rate Up to 12.2% in May

ISTAT | Nuno Fontes |
7/1/2013 9:24:33 AM