More italians in search of work, unemployment rises to 11.7% in September – The Republic

the MILAN - Increases the pressure of the italians to enter the “work force” of the Country and meeting with it the unemployment rate, with a consequent decline of citizens “inactive”. The reading issued by Istat sweetens the given raw of the growth rate of without work, rose in September to 11.7% and an increase of 0.2 percentage points compared to August. “The figure for September is less negative than it seems,” explains Paolo Mameli, an economist of Intesa Sanpaolo, “because a significant upward pressure on the rate of the jobless comes from a decline in era of inactive, which could be linked to a further decline in the effect-discouragement”, which is alre ady registered in the past quarters.

it Grows, therefore, in the Istat data, the estimate of the unemployed after the drop of July and August: 60 thousand (+2%), with a distribution between men and women and different age-groups. The unemployment rate, 11.7 percent, was 0.2 percentage points higher than in August. Escape from this deterioration in young people between 15 and 24 years, among whom there was an improvement of 1.2 points with the rate of the jobless, down 37.1%. Compared to September 2015, the increase of unemployed people is 3.4%: 98 thousand people.

In the same month there is also a growth of the busy: +0,2%, amounting to 45 thousand people, that allows you to recover the decrease recorded in July. “Positive dynamics are observed for both gender and all age classes; the increase is concentrated, this month, amongst the self-employed (+56 thousand), a decrease of the fixed-term employees and the stability of permanent ones. The employment rate was 57.5%, an increase of 0.1 percentage points compared to the previous month”. In a year, that is, compared to September 2015, the employees are 265mila more and more, and almost exclusively for growth of permanent employees (+264 thousand). The improvement is unbalanced, especially towards those over 50, with 384mila more people to work.

To explain the twin dynamics of growth, both employed and unemployed, with a rate of without work expansion need, then, to the decline of the inactive. Says the mayor: “The increased participation in the labour market in the month of September, both in terms of employment for both people in search of work, associated with the decrease in the estimate of inactive”: down 0.9%, to 127 thousand less. The renewed demand for labour on the part of the italians is even more pronounced on a comparison of the annual: 508mila people are outputs from the limbo of those who do not work nor seek employment. New Mameli notes that “the rate of inactivity fell by 35.1% to 34,8%, a new historical low since the series (since 1977), thanks in particular to the female component (44,7%)”. According to Mameli, “the trend for the labour market remains improving, which, however, is very slow and erratic on a monthly basis, the fall in the unemployment rate, e vident between the end of 2014 and the first half of 2015, seems to have stopped then”.

At this point, in view of the stop of the contributions generalized by the end of the year, “we do not exclude that in the last months of 2016, companies are again beginning to increase recruitment indefinitely to enjoy the reduction of contributions generalized”. However, it would be “an advance of assumptions that could weigh on the first months of 2017″. The minister of Labour, Giuliano Poletti, has welcomed the data, talking about “an overall positive picture of the labour market”, and stressing the return to the levels of June 2009, the employment rate, which rises to 57.5%, and stressed that “compared to February 2014, i.e. from the start of the activities of this government, the employees are 656mila.”

The data on the world of work arrived today from the Eurozone: for the third consecutive month the unemployment in the area with the single currency, to September, has remained stable at 10.0%, down 0.6 points compared to the same month of 2015. For the Eu-28, the rate was 8.5%, unchanged compared to August and down 0.7 points on September 2015.