Italian Unemployment Edges Up in August


In August, Italy's adjusted unemployment rate rose to 12.2 percent from 12.1 percent in July, reaching its all-time high. Youth unemployment continued to rise and hit 40.1 percent, from 39.5 percent in the previous month.

The number of unemployed persons amounted to 3.13 million, an increase of 1.4 percent compared to the previous month (+42 thousand) and an increase of 14.5 percent on an annual basis (+395 thousand). Among 15-24 year olds, 667 thousand persons representing 11.1 percent of the population in this age group were looking for jobs. Youth joblessness is up by 5.5 percentage points when compared with August of 2012. 

In July, the employment rate was unchanged from the previous month at 55.8 percent and is down by 0.8 percentage points from a year earlier. The inactivity rate stood at 36.3 percent, down 0.1 percentage points on a monthly basis and by 0.2 percentage points year-on-year.

Italian Unemployment Edges Up in August


Istat | Nuno Fontes | nuno@tradingeconomics.com
10/1/2013 9:24:39 AM