Youth Unemployment Falls To 43% In Italy

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Based on both youth and total unemployment, Italy looks like Spain and Greece did during the depths of the recession. Italy’s overall unemployment number was a record low 13.2% last month, and over four in ten youths were jobless.

According to government department Istat

In order to improve the timeliness of statistical information on the Italian labour market and in accordance with the agreements made within the European Union, Istat publishes monthly estimates of the main labour market indicators resulting from the “Labour force survey”.

In October 2014 22.374 million persons were employed, -0.2% compared with September 2014. Unemployed were 3.410 million, +2.7% with respect to the previous month.

Employment rate was 55.6%, -0.1 percentage points with respect to September 2014, unemployment rate was 13.2%, +0.3 percentage points over the previous month, and inactivity rate was 35.7%, -0.1 percentage points over September.

Youth unemployment rate (aged 15-24) was 43.3%, +0.6 percentage points in a month, youth unemployment ratio in the same age group was 11.9%, +0.1 percentage points over the previous month.

There is no reasonable basis to believe that the 43.3% will drop much in the foreseeable future.

Italy’s GDP fell .1% in the last quarter, and the country has moved toward a recession, even if it is a modest one.