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Financial News: Italy Jobless Rate Falls Unexpectedly To 7.2%

Italy Jobless Rate Falls Unexpectedly To 7.2%

01/31/2024 - 06:42:00 (RTTNews)

(RTTNews) - Italy's unemployment rate decreased unexpectedly in December to the lowest level in fifteen years, preliminary figures from the statistical office Istat showed on Wednesday.

The seasonally adjusted jobless rate dropped to 7.2 percent in December from 7.4 percent in November, which was revised down from 7.5 percent.

Meanwhile, economists had expected the rate to rise to 7.6 percent.

Moreover, this was the lowest rate since December 2008, when it was 6.9 percent.

In the corresponding month last year, the unemployment rate was 7.9 percent.

Data showed that the employment rate held steady at 61.9 percent.

The unemployment rate among young people aged between 15 and 24 also declined to 20.1 percent in December from 20.5 percent a month ago.

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