MILANO – While the Italian economy is dealing with a stronger than expected setback in the second quarter, positive signals are coming from the labor market for the month of June. According to the data released today by Istat, the employed grew by 82,000 units, bringing the employment rate to 61.5%.
On the other hand, the total unemployment rate fell to 7.4% (-0.2 points), with the youth rate at 21.3% (-0.4 points). The number of inactive people between the ages of 15 and 64 decreased (-0.3%, equal to -43 thousand units) for both sexes and among the over 24s, remaining substantially stable among the younger ones. The inactivity rate drops to 33.5% (-0.1 point).
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The increase in the number of employed people – Istat notes – can also be observed by comparing the second quarter of 2023 with the first: +0.6%, equal to +147 thousand units. The number of people looking for work decreased compared to May 2023: -2.3%, equal to -44 thousand units, also in this case for men and women and for all age groups. On an annual basis, however, compared to June 2022, both the number of job seekers decreased (-8.7%, equal to -178,000 units) and the number of inactive people between the ages of 15 and 64 (-2.2% , equal to -280 thousand).
Overall, the number of employed people rises to 23 million 590 thousand. Furthermore, compared to June 2022, there are 385 thousand more employed “due to the effect – explains Istat – of the increase in permanent and self-employed employees which more than offset the decrease in temporary employees”.