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Financial News: Italy Jobless Rate At 27-Month Low

Italy Jobless Rate At 27-Month Low

09/01/2022 - 08:48:00 (RTTNews)

(RTTNews) - Italy's unemployment rate decreased unexpectedly in July to reach its lowest level in more than two years, preliminary figures from the statistical office Istat showed on Thursday.

The jobless rate dropped to 7.9 percent in July from 8.0 percent in June. Meanwhile, economists had expected the rate to rise to 8.1 percent.

Further, this was the lowest unemployment rate since April 2020, when it was 7.5 percent.

Data also showed that the employment rate edged down to 60.3 percent in July from 60.4 percent in the previous month.

The unemployment rate among young people aged between 15 and 24, rose to 24.0 percent in July from 23.9 percent a month ago.

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