Italian Unemployment Rate Rises in May as Workers Return to Job Search
By Xavier Fontdegloria
Italy's unemployment rate increased in May as laid off workers
resumed job-seeking after two months of a strict lockdown to
contain the coronavirus oubtreak.
The country's unemployment rate, which includes active
job-seekers, was 7.8% in May, up from the upwardly revised 6.6%
reading in April, data from Italy's statistic agency Istat showed
The reading is in line with economists' expectations polled by
FactSet, who predicted the unemployment rate would rise to
In May, the number of unemployed grew by 307,000. There was a
229,000 reduction in the number of inactive people, those who don't
work or don't look for a job.
This group had expanded significantly during April and May, as
laid-off workers paused looking for jobs amid the lockdown.
However, May still registered an employment decline of
"In May, monthly data on the labor market describe a different
evolution compared to that of the previous months: compared to
March and April, the decrease in employment is more contained, the
number of unemployed rises significantly following the easing of
the restrictions and a substantial recovery in hours worked is
observed," Istat said.
Write to Xavier Fontdegloria at firstname.lastname@example.org
(END) Dow Jones Newswires
July 02, 2020 05:09 ET (09:09 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.