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Milan , December 30, 2014 – 17:31
” The downturn in the Italian economy is expected to stop in the next few months, in the presence of positive signals to domestic demand “: Istat a glimpse of the data released by the Note Monthly update on the country’s economy. How to say the recession should stop. Worryingly, however, the labor market. “The conditions of the labor market remain difficult,” added the Mayor, with the “unemployment rate in growth.”
“Substantial stationary growth”
In Italy, in the third quarter of 2014, economic activity continued to be weak. The gross product was still in decline (-0.1% on a cyclical basis) as a result of the contraction of dell’accentuarsi added value both in manufacturing and in the construction (respectively -0.6% and -1.1%) but in the presence of a stationarity in the services sector. Overall, the composite indicator forerunner of the Italian economy, concludes Istat, “confirms a substantially stable growth in the final quarter of the year.”
Unemployment worrying
The labor market, however, is undergoing a total stagnation. The most recent data of the labor force, the report says Istat, describe employment stable since the beginning of the year, with a further deterioration in October (-0.2% compared to the previous month). In the third quarter of the data referring to businesses with at least ten employees, relative to industry and services market, however, showed an increase in hours worked both in terms of total number of hours (+0.4 compared to the second quarter) and hours worked per employee (+ 0.3%). A similar trend was observed in industry excluding construction (+ 0.7% the number of hours, + 0.6% hours per employee), an industry that, at the same time, recorded a decrease in the effective remedy to Checkout integration (50.7 hours per thousand hours worked, a decrease of 10.9 hours compared to the same quarter of 2013). The stagnation of the Italian labor market was also reflected nell’and amento the vacancy rate: the seasonally adjusted data for the third quarter show that the indicator of labor demand remained anchored to the values of beginning of the year. The unemployment rate has continued to rise: in October, the seasonally adjusted data showed growth of three-tenths of a point compared to September, reaching a maximum value of 13.2%, significantly more ‘higher than the European average (11.5 %).
Elongation period of unemployment
The growth in the unemployment rate is also visible in the data is not seasonally adjusted: in the third quarter there was an increase of five-tenths of a point compared to the same quarter of 2013. The trend is due to the growth of people seeking employment (+5, 8% increase in the trend) and between them is increased above the share of unemployed looking for their first job (+ 17.6%). The growth of people looking for work is accompanied however with prolonged periods of unemployment: the incidence of long-term unemployed (share of people looking for work for more than a year) has risen from 56 in the current year, 9% to 62.3%. This group of individuals, generally considered unattractive by the companies, is a factor preventing a drop in unemployment especially in the South. The growth of the unemployed has also added that people defined closer to the labor market (+ 8.3% over the same quarter of the previous year). Among the inactive also grew those who have actively sought work because they believe that he could not find it (discouraged workers, + 6.5%). Overall research workplace is characterized by contrasting elements: on the one hand new actors move in search of a job, the other people already on the market are experiencing increasing difficulties in finding a job.
December 30, 2014 | 17:31
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