Italy September jobless rate edges down to 9.2%, with 59,000 jobs created vs month before

ROME, Nov 3 (Reuters) – Italy’s unemployment rate was slightly down at 9.2% in September from 9.3% the month before, data showed on Wednesday, as some 59,000 jobs were created, national statistics bureau ISTAT reported.

A Reuters survey of eight analysts had forecast a September jobless rate of 9.2%. August’s rate was confirmed by ISTAT at 9.3%.

ISTAT said in the July-to-Sept period those in work were upby 81,000, or 0.4%, compared with the three months starting in April.

In September, the youth unemployment rate, measuring job-seekers between 15 and 24 years old, rose to 29,8% from 28% the month before.

Italy’s overall employment rate, one of the lowest in the euro zone, rose in September to 58.3% from 58.2% in August.

The statistics institute said that since February 2020, when the coronavirus first started to batter Italy, some 300,000 jobs had been lost, producing a fall in the employment rate of 0.4 percentage points.

The euro zone’s third largest economy is recovering from last year’s monster recession, when gross domestic product contracted 8.9%. Prime Minister Mario Draghi said last week he expected growth of “well above” 6% in 2021.

Photo – A view of the semi deserted Trevi Fountain in Rome, Italy. EPA-EFE/ANGELO CARCONI