Italy's Unemployment Rate Rose in October as More Workers Resumed Job Seeking
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
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
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
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(END) Dow Jones Newswires
December 02, 2021 06:16 ET (11:16 GMT)
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