Istat: Italy's GDP -12.8% in the second quarter, never so declining since 1995
Istat, industrial production in June + 8.2% but pre-Covid levels still distant
01 September 2020Employment rises in July after four months of consecutive declines, but in the face of the decline in inactivity, the number of job seekers rises.
The analysis is by Istat.
Data in hand according to the research institute, the unemployment rate rises to 9.7%, compared to 9.3% in June. It is the worst figure since September 2019. Unemployment rises especially among young people with a 31.1 % versus 29.6% the previous month, reaching the highest level since 31.5% in February 2019.
On a monthly basis, Istat employs 85,000 more, attesting to + 0.4%, in particular among women and employees;
the employed men remain stable, while the independent ones decrease.
The employment rate rises to 57.8% (+0.2 percentage points).
The inactivity rate decreased, reaching 35.8% (0.6 points).
Since February, the level of employment has fallen by almost 500,000 units and job seekers have grown by about 50,000, compared with an increase in inactive persons of almost 400,000.
In four months, the employment rate loses more than one point, while the unemployment rate, with the July data, returns above the February levels.
In particular, in July the number of employed persons stood at 22.811 million, against 23.283 million in February.
The negative balance is therefore equal to 472,000 units.
The repeated downturns recorded starting from March 2020 contributed to a significant contraction in employment compared to July 2019 (-2.4% equal to -556,000 units), which involved men and women of all ages, as well as employees (-317,000) and self-employed (-239,000).
To keep the over 50s with an increase of + 153,000 employed.
However, this figure is exclusively linked to the demographic component.