By Xavier Fontdegloria 
 

Italy's unemployment rate rose in October as more people joined the labor market on the economic recovery from the Covid-19 pandemic.

The country's unemployment rate increased to 9.4% in October from 9.2% in September, the highest rate since June, data from the country's statistics office Istat showed Thursday. Economists polled by FactSet expected the unemployment rate to drop to 9.1%.

The number of employed people rose by 35,000, while the number of unemployed climbed by 51,000. Both increases came on the back of a decrease of 79,000 inactive people--those who don't work or don't actively look for a job--the data showed.

The number of people employed in Italy is almost 200,000 below the pre-pandemic level of February 2020.

Italy's economy, eurozone's third largest, grew 2.6% in the third quarter of the year compared with the previous three-month period. Economists expect the country's expansion pace to slow down in the last three months of the year as the reopening boost fades and uncertainty from rising Covid-19 cases hits consumer spending.

 

Write to Xavier Fontdegloria at xavier.fontdegloria@wsj.com

 

(END) Dow Jones Newswires

December 02, 2021 06:16 ET (11:16 GMT)

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