In the 2023, the gross real disposable income of Italian families has fallen further, positioning itself above six percentage points below of 2008 levels. As reported by Eurostat in its “Social Scoreboard”, this deterioration is mainly due to rising prices, which have reduced the purchasing power of families. Despite some improvements in the areas of employment, unemployment and in-work poverty, which for the first time since 2010 has fallen below 10%, Italy continues to show a weak economic performance compared to the rest of the European Union. In fact, according to Eurostat, while In the rest of the EU, average income increased slightly, going from an index of 110,12 to 110,82, in Italy it has dropped from 94,15 to 93,74, highlighting a growing distance from European levels.
Comparison with other European countries
If we compare Italy with other European countries, an even more worrying picture emerges. Only Greece performed worse compared to 2008, with a gross disposable income at 72,1% of that year's levels. In contrast, the Germany has seen significant growth, with an index of 112,59% in 2023, followed by France, which exceeded the 2008 levels with an index of 108,75%. The Spain, although not reaching pre-crisis levels, is in a better position than Italy, with an index of 95,85%.
Employment and unemployment: lights and shadows
Sul employment front, Eurostat data show an improvement for Italy, even if the country continues to lag behind the European average. employment rate between 20 and 64 years increased from 64,8% in 2022 to 66,3% in 2023, marking a growth of 1,5 percentage points unlike the EU average, where employment increased by only 0,7 percentage points, from 74,6% to 75,3%. Despite this progress, Italy continues to occupy the last place in the European ranking.
Despite the increase in the employment rate, theItaly continues to record high levels of unemployment. However, 2023 saw a slight improvement, with unemployment decreasing from 8,1% to 7,7%. The long-term unemployment (i.e. those who have been unemployed for at least a year) decreased from 4,6% to 4,2%, the lowest level since 2009, although still higher than the EU average (2,1%).
Young people and NEETs: a positive fact
An encouraging fact concerns the decrease in the number of young NEETs (Not in Education, Employment or Training), that is, those who are neither employed nor engaged in education or training. In Italy, this percentage fell from 19% to 16,1%, the lowest level since the beginning of the surveys in 2009. At European level, a decline was also recorded, albeit less marked, from 11,7% to 11,2%.
The risk of working poverty decreases
A positive aspect emerges from the front of the in-work poverty, which fell below 10% for the first time since 2010. In 2023, the poverty rate among employed people fell to 9,9%, compared to 11,5% in 2022. An improvement compared to the peaks of 12,2% reached in 2017 and 2018. At European level, the average stands at 8,3%.
Education: Signs of improvement
THEeducation It is another sector in which Italy has shown signs of improvement, although it remains lower than European standards. The share of early school leavers fell from 11,5% to 10,5%, the lowest level since 2000, when the rate exceeded 25%. At European level, the average fell from 9,7% to 9,5%.
even the graduation rate between 30 and 34 years old increased from 27,4% to 29,2% in 2023. However, Italy remains well below the European average, which rose from 42,8% to 43,9%.
