MILANO – Busy downhill in May. According to the data released today byState the figure drops by 49 thousand units compared to April. The drop affects both genders, and in particular for permanent employees (-96 thousand) and people between 25 and 49 years old. “After the strong growth recorded between February and March and the substantial stability in April, in May 2022 the number of employees fell below 23 million, due to the decrease in permanent employees”, comments Istat. Employment rises for the self-employed (+33 thousand), temporary employees, the under-25s and the over-50s.
The decline in employment is accompanied by a decline in the unemployed and a simultaneous increase in the inactive, that is, those who are not looking for a job. The unemployment rate thus falls to 8.1% overall (-0.1 points) and to 20.5% among young people (-2.1 points). The employment rate also dropped to 59.8% (-0.1 points). The increase in inactive people (+ 0.4%, + 48 thousand units) mainly involves men and 25-34 year-olds. The inactivity rate rises to 34.8% (+0.2 points). In comparison with May 2021, the employment rate rises by 1.8 percentage points, the unemployment rate falls by 1.7 points and that of inactivity by 0.7.
The decline in the number of job seekers (-2.1%, equal to -44 thousand units compared to April) is observed for both men and women and in all age groups except 25-34 year-olds . The increase in the number of inactive people between the ages of 15 and 64 mainly affects men and 25-34 year-olds. The inactivity rate rises to 34.8% (+0.2 points).
Comparing the quarter March 2022-May 2022 with the previous one (December 2021-February 2022) there is an increase in the level of employment equal to 0.6%, for a total of 136 thousand more employees. The growth in employment recorded in the quarterly comparison is associated with the decrease in both job seekers (-5.0%, equal to -109 thousand units) and inactive persons (-0.7%, equal to -88 thousand units).
The number of employees in May 2022 was 2.1% higher than in May 2021 (+ 463 thousand units); the increase is transversal by gender, age and professional position. The only negative change is recorded for workers between 35 and 49 years and is the effect of the demographic component. The employment rate, up by 1.8 percentage points, in fact rises for all age groups. Compared to May 2021, the number of job seekers decreases (-17.0%, equal to -416 thousand units) and the number of inactive persons aged between 15 and 64 years (-2.8%, equal to -371 thousand) .