Wednesday, August 31, 2016

Work, Istat: in July the unemployment rate drops to 11.4%, but increases among young people – Il Sole 24 Ore

In July, the unemployment rate has fallen a total of 11.4%, down 0.1 percentage points from June but at the same time decreases the number of employed. This was communicated by Istat stating that, after the increase recorded in June (+ 1.3%), the monthly estimate of the unemployed in July drops by 1.3% (-39 thousand). The decline affects both men (-1.4%) and women (- 2%) and all age groups except 15-24 (+23 thousand) and the 25-34 year olds (+38 thousand). However, the decrease is at least partly due to the increase of inactive, that is, people who give up looking for a job.

oN UNEMPLOYMENT RATE
seasonally adjusted data,% values ​​(source: Istat)

occupancy rate drops to 57.3%
the employment rate continues to Istat, in fact it dropped 0.1 percentage points in July to 57.3% from the previous month. The statistical office said that the estimate of employed falls by 0.3% compared to June (-63 thousand), interrupting the positive trend recorded in the previous four months (+ 0.4% in March, up 0.5 % in April, up 0.2% in May and June). The decline is attributable to both men to a greater extent to women and respect the independent (-68 thousand), while employees remain substantially unchanged. Employed fall in the age groups up to 49 years while increasing among those over 50.

THE EMPLOYMENT RATE
data seasonally adjusted,% values ​​(source: Istat)

Meeting youth unemployment
though salt the rate of youth unemployment in July: the unemployment rate of the aged 15-24, that is, the share of young unemployed on the total of the active ones (employed and unemployed), is 39.2%, an increase of 2 percentage points from the previous month. This was announced by the Mayor, adding that the calculation of the unemployment rate are by definition excluded young people inactive, ie those who are not employed and not looking for work, in most cases because they were engaged in studies.

THE YOUTH UNEMPLOYMENT RATE
seasonally adjusted data,% values ​​(source: Istat)

The percentage of unemployed young people between 15 and 24 of all young people of the same age group is 10.4% (that is, little more than a young man of 10 is unemployed). This incidence has increased by 0.4 percentage points compared with June. The employment rate fell by 0.7 percentage points, while that of inactivity increases of 0.3 points.



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Inflation: estimated +0.2 % in August, the trend stopped at -0.1%
the Mayor also announced that in August, according to preliminary estimates, the national consumer price index for the whole nation (NIC), gross of tobacco, registered an increase of 0.2% on a monthly basis and a decrease of 0.1% on an annual basis registering the same trend rate in July. The continuation of the deflationary phase, explains the statistical office, is the synthesis of price dynamics in the opposite direction which are netted. While, in fact, weakens the downward trend of the prices of non-regulated Energy (-7.0%, from -8.0% in July) and accelerates the growth of those of unprocessed Food (+ 2.4% , was + 1.5% the previous month), on the other the prices of services related to communications recorded a trend reversal (-1.4%, was up 0.4% in July), and resets the growth of those related to transport services (was + 0.7% the previous month). Prices of high-frequency products purchase did not vary in economic terms and record, in trend terms, an increase of + 0.1% (it was -0.1% in July).

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