Unemployment rate highest in nine years in ItalyApril 3rd, 2012 - 4:49 pm ICT by IANS
Rome, April 3 (IANS/AKI) Italian unemployment in February rose to 9.3 percent, the highest level since 2003 as the eurozone’s third richest country struggles to pull itself out of recession.
In the last three months of last year, 9.6 percent of Italian workers were unemployed, the worst job market since 1999.
There were 1.2 percent more jobless Italians in February than the same month last year and 0.2 percent more than January, national statistics agency Istat said Monday in a statement about preliminary unemployment data.
Almost 32 percent of workers between 15 and 24-years old were without work in February, according to Istat.
Italy’s economy is in a recession that isn’t expected to end this year. Almost 12,000 businesses closed their doors in 2011, the most in four years, the Cgia di Mestre small business trade group said Saturday.
Italy’s economy contracted during the final two quarters of last year, meaning the country is in recession. The International Monetary Fund forecasts the economy will shrink 2.2 percent this year.
Italy’s unemployment situation is better than the average of the 17 country’s that use the euro currency.
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- Italy's industrial output suffers steep October decline - Dec 09, 2011
- One in three youths without work in Italy - Jul 02, 2010
- Italy's industrial production rose in November - Jan 13, 2012
- One in four Italians face poverty due to recession - May 24, 2011
- Italy's unemployment rate drops - Aug 31, 2010
- Italian business confidence falls - Feb 28, 2012
- Italian industrial output falls for second consecutive month - Dec 18, 2010
- Inflation jumps in Italy - Feb 23, 2012
- 4.5 mn jobs at risk in eurozone in four years: UN - Jul 12, 2012
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