Italy’s unemployment rate hits 12.9% in January

The result, the worst since 1977, was released alongside that of youth unemployment, which spiralled to 42.4%, the Italian National Institute of Statistics (Istat) has revealed.

According to Istat’s data, 3.293m people were unemployed in January 2014, +1.9% compared with the previous month. The number of employed population remained stable at 22.259m, Istat also said.

The unemployment rate was therefore 12.9%, +0.2 percentage points compared with the previous month, while inactivity rate was 36.4%, -0.1 percentage points in a month.

Istat’s January report also revealed that 690m Italians between the age of 15 and 24 were unemployed, bringing the rate of youth unemployment to 42.4%, +0.7 percentage points compared with the previous month.

Istat also estimates that 22,4m people were employed in the 2013, down 2,1% (-478 thousands) from 2012.

Istat also revealed that 22,4m persons were employed in the Q4 2013, down 1,7% (-397 thousands) from Q4 2012.

The employment rate decreased to 55.7%. Unemployment rise to 3.2 million (+267 thousands persons), while the unemployment rate increased to 12.7%. The inactivity rate slightly increased to 37.2%.

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