Italy Unemployment Rate Up to 11.1% in October


In October of 2012, unemployment rate was recorded at 11.1% and inactivity rate at 36.0% according to a report by the National Institute of Statistics. The number of employed persons was reported at 22.9 million.

The unemployment rate in Italy, reported at 11.1%, experienced an increase of 0.3 percentage points when compared to September and of 2.3 points in comparison with October of 2011. The number of unemployed amounted to 2.87 million persons, an increase of 3.3% when compared to September 2012 (+93 thousand persons). The growth of unemployment affects equally men and women. The number of employed persons in October remained virtuallly unchanged from last month and recorded a drop of 0.2% in comparison with the same month last year. The employment rate was reported at 56.9%, an increase of 0.1 percentage points in comparison with October 2011.

Persons aged 15-24 years looking for job are 639 thousand, representing 10.6% of the population in this age group. The unemployment rate for 15-24 years old, which is the ratio of unemployed to the total of those employed or looking, is equal to 36.5%, up 0.6 percentage points from the previous month and 5.8 points in comparison trend. The number of inactive individuals aged 15-64 years decreased by 0.7% compared to the previous month (-95 thousand persons). The inactivity rate stood at 36.0%, down 0.2 percentage points compared with September and by 1.5 percentage points year on year.

ISTAT | Nuno Fontes | nuno@tradingeconomics.com
12/13/2012 10:41:22 AM