Italy Loses 22,000 Jobs in May as Inactivity Jumps 59,000
Updated
Updated · IndexBox, Inc. · Jul 2
Italy Loses 22,000 Jobs in May as Inactivity Jumps 59,000
2 articles · Updated · IndexBox, Inc. · Jul 2
Summary
May data from Istat showed Italy shed 22,000 jobs from April, trimming the employment rate by 0.1 point to 63.0%, even as the number of unemployed also fell by 22,000.
The drop in unemployment reflected fewer people counted in the labor force: inactivity among 15-64 year-olds rose by 59,000, pushing the inactivity rate up 0.2 points to 33.6%.
The monthly employment decline hit both sexes and nearly all age groups, with only workers aged 50 and over posting gains; youth unemployment still fell 1.3 points to 15.1%.
Broader trends remained firmer, with employment up 119,000 over March-May versus the prior three months and up 228,000 from a year earlier, while annual unemployment dropped by 399,000.