Italian Unemployment Edges Down For Second Straight Month


In July, Italy's adjusted unemployment rate fell to 12.0 percent, down from 12.1 percent in June and an all-time high of 12.2 percent in May. Youth unemployment continued to rise and hit 39.5 percent, from 39.1 percent in the previous month.

The number of unemployed persons amounted to 3.76 million, a decrease of 0.3 percent compared to the previous month (-10 thousand) but an increase of 11.8 percent on an annual basis (+325 thousand). Among 15-24 year olds, 635 thousand persons representing 10.6 percent of the population in this age group were looking for jobs. Youth joblessness is up by 4.3 percentage points when compared with July of 2012. 

In July, the employment rate was unchanged at 55.9 percent, the lowest figure registered since the third quarter of 2000. The inactivity rate stood at 36.4 percent, unchanged on a monthly basis and up 0.2 percentage points year-on-year.

Italian Unemployment Edges Down For Second Straight Month


ISTAT | Nuno Fontes | nuno@tradingeconomics.com
8/30/2013 9:19:05 AM