Unemployment fell to 12.9% in December – The Republic

Unemployment fell to 12.9% in December – The Republic

MILAN – lightened on the front of the Italian labor market, with a sharp drop in the unemployment rate in December: according to Istat preliminary estimate the percentage of jobless down to 12.9%, down by 0.4 percentage points on November. The Institute notes that it is “the first sign of decline” after “a period of growth that has persisted in the second half of the year.” And ‘in fact the lowest value since September and comes despite the new contracts of the Jobs Act, active from 2015, did predict a shift in the start of work contracts for new opportunities.

Even looking at the unemployment rate of you aged 15-24 marks a sharp reduction to 42%, the lowest since December 2013, so a year. But do not be deceived: “In December,” said the Mayor, “are occupied 918 000 young people between 15 and 24 years, down 0.7% (-7 thousand) compared to the previous month and 3, 6% yoy (-34 thousand). ” Cal a therefore the rate of youth employment and salt instead of the number of young inactive: is equal to 4 million 382 thousand, an increase of 0.9% in comparison cyclical (+37 thousand) and 0.4% year on year (+ 17 000).

Returning to the overall data, that Renzi comments via Twitter and Poletti welcomed with a “good news, in early the turning point of 2015, “the institute said that in the last month of last year the employed are the result of 22 million 422 000:” After the decrease observed in the previous two months, employment in December increased by 0.4% ( +93 thousand), returning to values ​​close to those of September. On an annual basis the growth was 0.5% (+109 thousand). ” The employment rate, at 55.7%, increasing by 0.2 percentage points in quarterly terms and 0.3 points compared to twelve months before.

On the other side of the fence there are 3 million 322 thousand unemployed, a number down 3.2% from the previous month (-109 thousand people) but up 2.9% on an annual basis (+95 thousand). Said the decline sensibilemensile, we must also say that compared to a year earlier, the unemployment rate is increasing by 0.3 percentage points.

less positive signals from the fact that the number of inactive people aged 15 64 years increased by 0.2% from the previous month; Also in November inactivity had reported a similar growth after the decline that began in April. On an annual basis inactivity remains down 1.9%. The inactivity rate, 35.8%, increased by 0.1 percentage points in quarterly terms and decreased by 0.6 points year on year.

Even at European level were released data on work. In December, the unemployment rate in the euro zone fell to 11.4% from 11.5% in November and 11.8% a year earlier. And ‘the lowest rate since August 2012. In the EU, there was a 9.9% after 10% in November (10.6% a year earlier). For the Union is the first time that the unemployment rate falls below 10% from October 2011.