Italy Jobless Rate Drops to 11.5%

Italy's seasonally adjusted jobless rate fell to 11.5 percent in May 2016 compared with a downwardly revised 11.6 percent in the previous month, beating market expectations. The number of unemployed continued to decrease while employment levels increased for the third month running.

In May, the number of unemployed persons declined by 24 thousand or by 0.8 percent to 2.950 million from 2.974 million in April, while the number of employed persons rose by 21 thousand or by 0.1 percent to 22.677 million from 22.656 million in the previous month. The employment rate, one of the lowest in the Euro Area, went up to to a fresh five-year high of 57.1 percent from 57 percent in April and the activity rate also rose. In contrast, the inactivity rate, which measures those neither in work nor looking for work, stood at 35.3 percent.

Youth unemployment rate (aged 15-24) was stable at 36.9 percent.

Year-on-year, the number of unemployed fell by 175 thousand or by 5.6 percent while the the number of employed increased by 299 thousand or by 1.3 percent.

Italy Jobless Rate Drops to 11.5%

Istat | Joana Ferreira |
7/1/2016 9:16:59 AM