Italy Nov jobless price falls to five.7% however 13,000 jobs misplaced

ROME (Reuters) – Italy’s unemployment price dipped to five.7% in November, the bottom studying because the present collection started in 2004, however 13,000 jobs had been misplaced in the course of the month, nationwide statistics bureau ISTAT reported on Tuesday.

The jobless price in October was 5.8% and a Reuters survey of 11 analysts had forecast a November studying of 5.9%.

Within the September-to-November interval, employment was up by 49,000 or 0.2%, in contrast with the earlier three months, ISTAT stated.

In November, the variety of individuals in work was up by 328,000, or 1.4%, in contrast with November 2023.

In the identical month, the variety of so-called “inactive” individuals, who’re neither in work nor in search of work, rose by 23,000, or 0.2%, from October, and by 323,000 (2.6%) on a yearly foundation.

The youth unemployment price, measuring job-seekers between 15 and 24 years previous, rose to 19.2% in November from a revised 17.8% the month earlier than.

Italy’s total employment price, one of many lowest within the euro zone, was secure in November at 62.4%.

ISTAT gave the next knowledge:

NOV OCT SEPT

JOBLESS RATE 5.7 5.8 6.0

YOUTH UNEMPLOYMENT RATE (15-24) 19.2 17.8r 18.9

EMPLOYMENT RATE (15-64) 62.4 62.4r 62.3r

r=revised