Italy Dec jobless rate edges down to 9.0% -ISTAT

February 4, 2022

ROME: Italy’s unemployment rate fell to 9.0% in December from a downwardly revised 9.1% the month before, national statistics bureau ISTAT said on Tuesday.

A Reuters survey of five analysts had forecast a December jobless rate of 9.2%. The November rate was previously reported as 9.2%. ISTAT said the number of both employed and inactive people was substantially stable in December.

In the three months to December employment was up by 0.3%, or 70,000 jobs, compared with the September-to-October period.

Compared to February 2020, the last month before COVID-19 began to batter Italy, the unemployment rate is still 0.6 points lower, while the employment rate has returned to the same level at 59.0%. The inactivity rate has risen to 3 5.1% from 34.6%.

In December, the youth unemployment rate, measuring job-seekers between 15 and 24 years old, fell to 26.8% from a downwardly revised 27.5% the month before.

The number of people looking for work in December fell 1.3% month-on- month and 7.6% year-on-year.

ISTAT gave the following data: DEC NOV OCT SEPT JOBLESS RATE 9.0 9.1r 9.3r 9.1r YOUTH UNEMPLOYMENT RATE (15-24) 26.8 27.5r 27.6r 28.9r EMPLOYMENT RATE (15-64) 59.0 59.0r 58.8r 58.7r r=revised

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