Italy Unemployment Rate

The unemployment rate in Italy edged down to 9.3% in July of 2021 from a downwardly revised 9.4% in June, well below market forecasts of 9.7%. It is the lowest reading since May last year, as both employed (-23K) and unemployed (-29K) declined while the number of inactive people increased (+28K). The youth unemployment rate tumbled to 27.7% from 29.3%. "The strong growth recorded in the previous five months resulted in a balance of 550,000 more employed persons compared to January 2021. However, we have not yet returned to pre-pandemic levels. The number of employed people is more than 260,000 lower, the employment and unemployment rates remain lower, while the inactivity rate is 0.7 percentage points higher," ISTAT said.