In the last three years, in Italy, employment has grown only among the over 50s. According to theIstat, which released its provisional estimates on the labor market this morning, the increase was 13,9%, equal to about 900 more workers between January 2013 and October 2015. The employment rate of people between 50 and 64 years of age has risen by 4,6 percentage points in the last three years. In the same period, that of 15-34 year olds dropped by 1,7 points and that of 35-49 year olds by 1,1 points.
The under 50 employed decreased until the first half of 2015: the drop was more substantial in 2013, in particular for people between 15 and 34 years old (-6,3%, equal to a drop of over 300 thousand employed since January 2013). In the second half of 2015, however, there was a recovery in employed 15-34 year olds, which in October 2015 returned to the levels of mid-2014. Employed 35-49 year olds instead fell over the entire three-year period, recording a drop of 4,4, 450% (-XNUMX thousand).
To explain the trend in employment in the various age groups, according to Istat, "the progressive aging of the population evidently contributes", which in the period from January 2013 to September 2015 recorded a growth of 4,7% among the over 50s (+4,6% among 50-64 year olds), against the decline in people between 15 and 34 and between 35 and 49 (respectively -2,2% and -3,0%).
To the impact of the demographic dynamics for the over 50s is added the even more significant one of the "greater participation in the labor market - writes Istat -, also determined by the lower outgoings for retirement following the changes in the social security legislation", essentially for effect of the Fornero law. In particular, it is estimated that approximately 70% of the employment growth of 50-64 year olds is determined by the greater participation in the workforce and the remaining 30% by demographic growth.
GENERAL UNEMPLOYMENT RATE
Italy's unemployment rate fell to 11,5% in October, up from 11,6% in September. This is the lowest level since December 2012, when the figure was 11,4%. The number of unemployed decreased by 0,5% over the month (-13 thousand). The decrease concerns women and the population over the age of 34. On the other hand, the jobless decreased by 12,3% (-410 thousand people) and the unemployment rate by 1,4 points.
THE OCCUPIED
As for employed persons, after the growth recorded between June and August (+0,5%) and the drop in September (-0,2%), in October the estimate decreases again by 0,2% month on month (-39 thousand) , while on an annual basis employment grew by 0,3% (+75 people employed). The drop in employees compared to September is determined by the self-employed (-44 thousand equal to a decrease of 0,8%), which also includes the self-employed, while employees remain substantially unchanged. The employment rate decreased on a monthly basis by 0,1 percentage points, reaching 56,3%, while on an annual basis it grew by 0,4 points.
YOUTH UNEMPLOYMENT
Il youth unemployment rate it stood at 39,8% in October, an increase of 0,3 percentage points compared to the previous month. In July, the figure fell below the 40% threshold (to 39,2%) for the first time since June 2013. Inactive young people, i.e. those who are not employed and not looking for work, are excluded from the calculation of the unemployment rate , in most cases because they are busy studying. The incidence of unemployed young people aged between 15 and 24 out of the total number of young people in the same age group is 10,3% (that is, just over one young person out of 10 is unemployed). This incidence increased by 0,1 percentage points in October.
In the last month, the employment rate among 15-24 year olds remained stable, while the inactivity rate fell by 0,1 points. Also in the 25-34 age group, an increase in the unemployment rate was recorded in the last month (+0,2 percentage points), while the employment rate decreased (-0,2 points) and the inactivity rate remained unchanged .
EUROZONE: SLIGHTLY DECREASE UNEMPLOYMENT
According to Eurostat, with 13 fewer unemployed in October, the average unemployment rate in the euro area dropped to 10,7%, from 10,8% the previous month. The community statistics office counted 17 million 240 thousand unemployed in the currency area, and 22 million 497 thousand for the whole of the European Union of 28, where the incidence remained stable at 9,3 per cent.
Also in Italy, Eurostat reports, in October unemployment dropped by one decimal point compared to the previous month, to 11,5 per cent for 2 million 927 thousand total unemployed. This is the sixth highest level of unemployment rate in the EU28.
