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Italian unemployement remains stable despite worrying rates

Italy's unemployment rate remained stable at 10.7% in July, the highest level since January 2004

Italian unemployement remains stable despite worrying rates

Nathania Zevi

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by Nathania Zevi

Italian unemployment rate in the second quarter of 2012 has remained stable slightly over 10,5%, growing 2,7 percentage points per year, according to ISTAT, the national statistics agency.

The highest rate of the 2nd quarter since 1999. In July was steady at 10,7 - like in June, the highest since January 2004.

The rate is growing by 2,5 points per year. The number of people looking for a job has increased by 33,6%, that is, 695.000 individuals.

The rate went up among 15-24 year old to 33,9% in the 2nd quarter of 2012, it was  27,4% in the 2nd quarter of 2011. It is the highest unemployment rate since the 2nd quarter of 1993.

Youth unemployment rose to 35,3% in July, 1,3 percentage points more than June and 7,4 points more than in July 2011.

There are 618.000 individuals among 15-24 year old looking for a job.

In the 2nd quarter of 2012, employees on temporary contract were 2 million 455 thousand, the highest number since the 2nd quarter of 1993, if we add the 462.000 freelancers, the total is 3 millions of temporary employees.

With regard to the unemployment rate of the 2nd quarter of 2012 among the 15-24 year old, the 48% are women in the south of the country, which has always represented the hardest reality inItaly.

 

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