Italy Unemployment Rate Falls to 11.6% in February


According to Istat, 22.7 million persons were employed in February of 2013. Employment rate was 56.4 percent, unemployment rate 11.6 percent and inactivity rate 36.1 percent.

In February of 2013, the number of employed (22.739 million persons) increased 0.2 percent when compared to January (+48 thousand). Year-on-year employment decreased by 1.0 percent (-219 thousand). The employment rate, 56.4 percent, rose 0.1 percentage points in comparison with the previous month and fell 0.5 points from a year earlier.

The number of unemployed amounted to 2.971 million, a fall of 0.9 percent compared to January (-28 thousand). The decline affects equally men and women. On an annual basis, unemployment increased by 15.6 percent (+401 thousand). The unemployment rate amounted to 11.6 percent, down 0.1 percentage points from January and up 1.5 points on the year.
 
The number of 15-24 years-old looking for work is 647 thousand, representing 10.7 percent of the population in this age group. Youth unemployment also declined to 37.8 percent from January's record high of 38.6 percent. However, it represents an increase of 3.9 points when compared to February of 2012.

Istat | Nuno Fontes | nuno@tradingeconomics.com
4/2/2013 9:23:08 AM