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).