Italy unemployment rate edges up to 9.9% in July
Numbers are result of a staggering rise in country's youth unemployment rateEuropost
Italy’s unemployment rate reached almost 9.9% in July after an upward revision to the previous month’s data, as some 18,000 jobs were lost, national statistics bureau ISTAT reported on Friday. That compares with the Eurozone average of 7.5% and is much higher than 3.4% in the Netherlands and 5% in Germany.
In addition, according to ISTAT country's youth unemployment rate, measuring job-seekers between 15 and 24 years old, in July also rose significantly to 28.9% from 28.1%. July’s data thus halts the downward trend in the unemployment rate in place since October last year, when it stood at 10.7%.
Nonetheless, in the May-to-July period some 101,000 jobs were created compared with the previous three months, ISTAT said. Of these, 84,000 were permanent contracts. One of the first tasks of the government which took office in June last year was to pass measures aimed at curbing temporary hires and encouraging open-ended contracts. The so-called “dignity decree” then took full effect in November.
That government, made up of the anti-establishment 5-Star Movement and the hard-right League collapsed this month and looks likely to be replaced by coalition of 5-Star and the centrist Democratic Party.