Italian Unemployment Rate Ticked Up in October
By Xavier Fontdegloria
Italy's unemployment rate edged up in October and employment
levels decreased slightly, data from the country's statistics
office Istat showed Wednesday.
The country's unemployment rate, which includes only active job
seekers, increased to 9.8% in October from an upwardly revised 9.7%
In October, 13,000 jobs were lost and the number of unemployed
rose by 11,000, Istat said.
The number of people working in Italy is still 420,000 below the
figure registered in February, the month before the coronavirus
pandemic hit the country and the first lockdown measures came into
effect. The number of unemployed has increased by 80,000 people
since then, while the number of those inactive--people who don't
work and aren't actively seeking for a job--has surged by almost
Italy's economy grew by 15.9% during the third quarter compared
to the previous one, after contracting by 13% from April to June.
Despite the strong rebound, Italy's third-quarter gross domestic
product was still 5% below the level recorded a year earlier, data
from Istat showed.
The Italian economy--the eurozone's third-largest--is expected
to contract again in the fourth quarter as a new surge in
coronavirus cases and renewed government restrictions hit economic
Write to Xavier Fontdegloria at email@example.com
(END) Dow Jones Newswires
December 02, 2020 05:42 ET (10:42 GMT)
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