Italy Jobless Rate Falls to Near 7-1/2-Year Low of 9.7%

The seasonally adjusted unemployment rate in Italy decreased to 9.7 percent in June of 2019 from a downwardly revised 9.8 percent in the previous month and below market expectations of 10 percent. It was the lowest jobless rate since January of 2012.

The number of unemployed decreased by 29 thousand, or 1.1 percent from the previous month to 2.525 million in June and those detached from the labor force edged down by 35 thousand, or 0.1 percent to 25.925 million, while employment was barely unchanged at 23.399 million. 

Youth unemployment rate, measuring job-seekers between 15 and 24 years old, fell to 28.1 percent from 29.7 percent in May, the lowest since April of 2011. 

The country's overall employment rate, one of the lowest in the Euro Area, edged up to a record high of 59.2 percent in June from 59.1 percent in the prior month. The labor force participation rate stood at 65.7 percent for the fifth straight month.

On an annual basis, unemployment declined by 288 thousand and employment rose by 115 thousand.

Italy Jobless Rate Falls to Near 7-1/2-Year Low of 9.7%

Istat | Agna Gabriel |
7/31/2019 8:27:11 AM