Tuesday, March 31, 2015

Back to growing unemployment, the labor market still … – TGCOM

– The Italian employment situation has deteriorated drastically in the years of crisis and now, despite the hints of recovery seen, the indicators do not always photographing a unique trend of our economy.

Back to growing unemployment, the labor market still in trouble

The numbers do not lie. Between 2008 and 2014, Istat noted recently, the South in particular has lost 576,000 jobs, equivalent to 70% of the overall decline while the North has lost 284,000. Overall the South lost 8.9% of its employees (- 3.5% average Italian). In general, since the crisis, in Italy we have lost over a million jobs.

So our job market is conditioned by a common salts -scendi, given the high percentage still affecting the unemployment rate. After the decrease recorded in December 2014, which was followed by the further decline in January, was recorded in February, a slight increase in unemployment, now at 12.7 %.

Specifically, the number of employed decreased by 44 thousand units compared to the previous month, but increased by 93 thousand units compared to February 2014. The employment rate thus amounted to 55.7%, in down 0.1 points on the month and an increase of 0.2 points on the year. The unemployed, however, increased on a monthly basis by 0.7% (+23 thousand).

This is despite a period of confidence, both businesses and consumers, a significant improvement compared to the past. In particular, expectations for employment improved among construction companies (as construction is among the economic sectors most affected) and among those market services. But also among consumers, in fact, appears to increase the share of those expecting a descent – slight, however – in unemployment (to 36.6% from 32.6% as measured in March).

The ups and downs, in short, has little to do for the moment with the Jobs Act. To specify it, indeed, is the Istat: 79 000 activations of the new contracts announced by the Government “data are of different nature and not necessarily mean new jobs. Transitions can also be determined by time and other types of contracts “. Among the first effects of the Jobs Act, in fact, we can not exclude the stabilization of project contracts, forward contracts and VAT numbers which in itself does not produce new jobs.

If you look at the trend in the period December to February, finally, compared to the previous quarter, employment remained stable, while the unemployment rate fell by 0.4 points, to a large extent to the rise in the rate of inactivity. The inactive, in fact, are the people who are not part of the labor force, ie those not classified as employed or seeking employment: the unemployment rate considering the number of people seeking jobs in the total active population, without find .

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