Italy Today

Italian young entrepreneurs fighting back against recession

Almost 100,000 new companies were established by Italians aged 35 and younger in the first nine months of this year

Italian young entrepreneurs fighting back against recession

Claudia Astarita

-

A lot of media keep on stressing that Italy's jobless rate keeps on raising beating any expectations, highlighting that companies are failing to hire among concerns about the persisting recession, or that young people can only find a job "on the black", which means that they are "employed in the shadow economy, without a contract or the rights that go with it".

The problem of unemployment in Italy, and especially youth unemployment, is undeniable. According to Bloomberg data, the September rate (above 12.3 percent) was the highest since 1977, while rate for people between the ages of 15 and 24 rose to a historic high of 40.4 percent in September from 40.2 percent.

According to Raffaella Tenconi, an economist at Bank of America Merrill Lynch in London, there is "no evidence of an improvement from that rate next year. Hiring intentions, though improving, continue to signal a weakening labor market."

Despite that, it is interesting to notice that some other media more positively stresses the remarkable efforts of young Italian entrepreneurs are doing to lead the fighting back against recession. It is impressive to notice that many young Italians, rather than moving abroad to look for better opportunities, are now choosing to "remain in Italy and create their own jobs by becoming entrepreneurs".

New data recently confirmed the rise in young entrepreneurs numbers (under 35), together with an overall national increase in new businesses. According to Unioncamere, almost 100,000 new companies were established by Italians aged 35 and younger in the first nine months of this year.

Unioncamere head Ferruccio Dardanello praised this new trend describing the current young generations as one made of people who "do not resign themselves to leave Italy (in order) to build a future," rather they "roll up their sleeves and look with courage to tomorrow". In conclusion, it is remarkable to notice that many of these new businesses have been launched in the South as well as in central Italy.

Follow @castaritaHK

© Riproduzione Riservata

Commenti