In November it falls unemployment at three-year lows and employment rises. The unemployment rate, according to ISTAT in fact in its provisional estimates on work, is passing at 11,3 per cent with a decrease of 48.000 unemployed compared to October and of 479.000 compared to November 2014 (-14,3%). There are 2.871.000 people looking for a job. Compared to the previous three months, in the September-November period, the Institute continues, the number of unemployed decreased (-4,4%, equal to -134 thousand). Employed people also decreased slightly (-0,1%, equal to -12 thousand) while the inactive increased (+0,6%, equal to +88 thousand).
Among the estimates provided by Istat, it is also striking that the unemployment rate of 15-24 year olds, i.e. the share of unemployed young people out of the total active ones (employed and unemployed), is equal to 38,1%, down by 1,2 percentage points compared to the previous month. A particularly positive figure for Italy, which has high youth unemployment and which is at its lowest level since 2013. Inactive young people are excluded from the calculation of the unemployment rate, i.e. those who are not employed and are not looking for work, in most part of the cases because engaged in studies. The incidence of unemployed young people between the ages of 15 and 24 out of the total number of young people in the same age group is 9,8% (that is, just under one young person out of 10 is unemployed). This incidence decreased by 0,4 percentage points in November.
On the other front, employment grows. In November, the employed grew by 36.000 units over October (+0,2%) and by 206.000 over the previous year (+0,9%). The total employed in the month were 22.480.000 with an employment rate of 56,4%. There are also 138 more inactive people.
Employment growth of November "is determined by the female component and by the increase in permanent and self-employed employees while temporary employees decrease". Permanent employees grew by 40.000 units over October (+0,3%) while temporary employees decreased by 32.000 units (-1,3%). Independents have registered an increase of 0,5% (+28.000) in the last month. On an annual basis, permanent employees increased by 141.000 (+106.000 for temporary contracts).
Prime Minister Matteo Renzi commented on the new data released by Istat on Twitter:
Unemployment continues to fall, today 11,3%, is proof that #jobsact it works. Italy restarting, restarting from work #the right time
- Matteo Renzi (@matteorenzi) January 7 2016
