Italy, unemployment on the rise in March showed one weakness … – Reuters Italy

MILAN / ROME (Reuters) – Back to rise the unemployment rate in Italy, to report as the re-start of the economy expected for the first quarter, combined with the debut of the tax cuts and regulatory changes, has not resulted in an improvement of the situation of the labor market.

According to the monthly estimates by Istat to spread this morning March, the month in which entered in force the rules on the contract at increasing protections for new employment, the unemployment rate rose to 13% from 12.7%, the highest level since last November, compared with a consensus for a slight decrease to 12.6%.

The figure also reflects the tax relief for companies that hire with stable contracts under the law of stability in January.

The situation is slightly less negative in the comparison of the quarter, which show a decline in the unemployment rate of 0.2% compared to the last part of 2014.

But this compared with an employment rate decreased by 0.1% to 55.5% and an increase of 0.2% of the rate of inactivity to 36%.

“The most plausible interpretation is that today’s data represent a ‘further expression of the uncertainty with which you are starting the recovery, “said Stefania Tomasini, economist Prometeia.

According Tomasini, 2015 will be more of a year of adjustment for the Italian labor market. “We continue to believe that the recovery will strengthen in the coming quarters. The average for the year, however, the unemployment rate is expected to remain at 12.7%, ie the level of 2014″.

The president of INPS and economist Tito Boeri believes that it is decimal, so “it’s like unemployment and employment had stabilized. We are within the statistical error. “

Maintains a vision “constructive” Fabio Fois, economist at Barclays: “We continue to judge positively the reforms, the positive effects of which will be highlighted during the year” More …