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- Italy's unemployment rate drops sharply in November
Italy's unemployment rate drops sharply in November
According to the report from Istat, in November 2020, after the substantial stability of October, the number of employed persons grew again; an increase was also recorded for inactive people, which had been decreasing since May; on the other hand the drop among unemployed people was getting more pronounced.
On a monthly basis, the increase of employment (+0.3%, +63 thousand) concerned both genders and all age classes, with the exception of people aged 25-34. Overall, the employment rate rose at 58.3%.
In the last month, the sharp decline of unemployed people (-7.0%, -168 thousand) is generalized for both genders and all ages. The unemployment rate decreased to 8.9% (-0.6 p.p.) and the youth rate to 29.5% (-0.4 p.p.).
In the period September-November 2020, with respect to the previous quarter, employment grew (+0.6%, +127 thousand) for both genders.
In the last three months, a decline was registered in the number of unemployed persons (-2.8%, -67 thousand) and inactive people aged 15-64 years (-0.8%, -117 thousand).
Compared to November 2019, employment showed a decrease in terms of figures (-1.7%, -390 thousand) and rate (-0.8 percentage points).
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