Italy’s Unemployment Rate Rises

ROME (Reuters) – Italy’s unemployment rate rose to 6.2% in December from an upwardly revised 5.9% the month before, as reported by the national statistics bureau ISTAT on Thursday. Employment levels remained broadly stable during the month.

A Reuters survey of 12 analysts had previously forecasted a December jobless rate of 5.7%, which was the earlier reported figure for November.

During the whole of the fourth quarter, employment in the euro zone’s third largest economy increased by 27,000, or 0.1%, compared to the previous three months, according to ISTAT.

In December, the number of people employed rose by 274,000, or 1.2%, compared to December 2023.

Despite a stagnant economy, employment in Italy has been on the rise. Gross domestic product (GDP) remained flat for a second consecutive quarter at the end of 2024, as reported by ISTAT, which casts uncertainty over growth prospects for this year.

The youth unemployment rate, which measures job-seekers aged between 15 and 24, was stable in December at 19.4%.

Italy’s overall employment rate, one of the lowest in the euro zone, decreased in December to 62.3% from 62.4% the previous month.