Post by : Badri Ariffin

In a significant development, Italy’s employment landscape marked an impressive achievement in October, with the national employment rate climbing to 62.7 percent — the highest since January 2004 began recording data. Recent statistics released on Tuesday by the Italian National Institute of Statistics (Istat) reveal a consistent upward momentum in job creation throughout the nation.

According to the latest figures, approximately 24.208 million individuals were employed in October, which signifies an increase of 75,000 compared to September and an impressive jump of 224,000 versus the same month last year. This ongoing growth has propelled the employment rate up by 0.1 percentage points month-over-month.

Current data also indicates a positive shift in broader labor market conditions. Italy's overall unemployment rate has decreased by 0.2 percentage points to stand at 6.0 percent, while youth unemployment, a critical economic indicator, has notably dropped by 1.9 points to 19.8 percent. The inactivity rate remains stable at 33.2 percent, reflecting consistent levels of workforce participation.

The statistics for October embody a sustained period of labor market resilience, bolstered by ongoing economic activity and steady improvements across diverse sectors. This data contributes to a series of monthly advancements, ensuring that Italy’s employment trajectory continues to move forward steadily through 2024 and into the upcoming year.

#Business News #Economy