Youth unemployment to its lowest value since 2012, but in October, less Italian looking for work – The Republic

ROME - In September, the unemployment in Italy grew to 11.7%, but, due to the greater propensity of the italians to seek work. In October, drops to 11.6%, but because most of the Italian that work have stopped giving chase. Are the data in the chiaroscuro of employment published Thursday by Istat. If the overall rate of falls, in fact, one-tenth, the decline is primarily the result of the growth of the inactive, the citizens who declare themselves unavailable for use, increased 82mila units (+0.6 percent). A shift away from the labour market, which “balance” the decrease of the employed population, 30 thousand less than in September (by 0.1%), bringing down the overall figure of unemployment. “The reduction of the unemployed – says Istat – is attributable to women, while there is a slight increase among men, and is distributed between the different age classes with the exception of the over-fifties”. The positive note is that it is the youth unemployment, which continues its descent and arrives 36.4%, the lowest level recorded since 2012. Even if, also in this case, the decrease is determined mainly by the increase of inactive.

These data for October are especially important: it is the first month of the last quarter of the year, the one that will decide if Italy will focus its growth goals for 2016. And the signs that come from the Institute of statistics of a labour market that is more rain than in September. On an annual basis, in fact, the number of italians in the work continues to be positive, are 22.7 million, 174 thousand more than in October of 2015 (+0.8 percent). In the month, however, as well as in the comparison between quarters, the busy have seen a slight decline, respectively, 30 thousand and 34 thousand units, a decrease due primarily to the component of work permanent employee. By July, the Italian economy is no longer able to create new employment, with the employment rate back to 57.2%, the same level of April. The confirmation that with the end of incentives on the new hires, the companies have ceased to expand the organic.

In a slight decrease in October are also the unemployed, or 2.98 million, down 37 thousand units compared to September (by 1.2%), although a growth of 38 thousand units on an annual basis. But what impacts more on the overall figure of unemployment is the number of inactive people who are not seeking employment, a historic Achilles heel of Italy. In September were down 0.8% in October, are back to grow 0.6%. Make 82mila more people left the labour market, bringing the total number of “discouraged” to 13.6 million, the increase as shown by the Istat “affects both the components of gender and classes of age up to 49 years.” The rate of inactivity rose to 35,1%, an increase of two-tenths of a second. Not a positive signal.

And even the decided decline in youth unemployment, which is four tenths less than in September and to its lowest value since 2012, can be read the same way. In the range between 15 and 24 years, in fact, along with the guys without jobs (14 thousand units, -2,5%), but also to employees (7 thousand units, or 0.7%. The most significant change is that of the inactive, more 20 thousand (0.5%), with the overall rate of inactivity-which has reached 73.9%. While the band immediately above, and between 25 and 34 years, is the only one that even on a year-over-year the rate of employment decrease, of 0.6%.

@filipposantelli

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busy

unemployed

October

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