In June, general unemployment started to rise again, but at the same time the number of employed people increased, inactivity decreased and the unemployment among young people fell to a minimum for almost four years. This is the picture that emerges from the latest Istat data on the labor market in Italy.
YOUTH UNEMPLOYMENT
The least expected variation is that concerning youth unemployment. In June, the jobless rate between 15 and 24 years of total assets in this age group was 36,5%, down by 0,3 percentage points compared to the previous month. This is the lowest level since October 2012. In the same category, the employment rate increases by 0,2 percentage points, while the inactivity rate decreases by 0,3 points.
GENERAL UNEMPLOYMENT
At a general level, the statistical institute reports that, after the drop in May (-0,8%), the estimate of the number of unemployed in June increases by 0,9% (+27 thousand). The unemployment rate thus reaches 11,6%, an increase of 0,1 percentage points compared to May.
The increase is attributable to the male component (+2%), while a slight decrease was recorded for the female component (-0,3%). The male unemployment rate, equal to 10,9%, increased by 0,2 percentage points, while the female unemployment rate, equal to 12,5%, decreased by 0,1 points.
However, we recall that the unemployment rate recorded by Istat is given by the ratio between the unemployed and the total workforce: therefore, the increase in the rate was due to the expansion of the workforce, in turn linked to the fact that some inactive they started looking for employment, whether they found it or not.
OCCUPIED
Again in June, the trend towards an increase in the number of employed people was confirmed: +1,5% on an annual basis, equal to +329 units. The trend growth is attributable to both employees (+1,4%, equal to +246 thousand) and self-employed (+1,5%, equal to +83 thousand) and occurs for men and women, concentrated among the over 50s (+264 thousand) and 15-34 year olds (+175 thousand). In the same period, the unemployed (-4,5%, equal to -140) and the inactive (-2,3%, equal to -325) decreased.
INACTIVE
Finally, the estimate of the inactive (those who are neither working nor looking for a job) in June decreased by 0,4% (-51 thousand) between 15 and 64 years of age, continuing the decline of the previous three months. The decrease affects both men and women. The inactivity rate thus drops to 35,1% (-0,1 percentage points), the lowest value reached since the beginning of the historical series.
“Today Istat data came out: thanks to the Jobs Act they say that from the day we entered Palazzo Chigi to today we have more than 599 jobs, of which 75% with permanent contracts. The problem is that this, said in Taranto, risks sounding like a joke. Then nobody should consider this result as a goal”. This is the comment of Prime Minister Matteo Renzi
