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Financial News: Italy's Jobless Rate Lowest In More Than 7

Italy's Jobless Rate Lowest In More Than 7 Years

07/01/2019 - 08:34:00 (RTTNews)

(RTTNews) - Italy's unemployment rate declined to the lowest in more than seven years in May, the statistical office Istat reported Monday.

The unemployment rate slid unexpectedly to 9.9 percent in May from 10.1 percent in April.

A similar lower rate was last seen in February 2012. The rate was forecast to rise to 10.3 percent.

The jobless rate among youth aged between 15 and 24, decreased to 30.5 percent from 31.1 percent in the previous month.

At the same time, overall employment increased by 0.3 percent or 67,000 from April. The employment rate came in at 59 percent in May.

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