Italian Unemployment Rate Hits Record High In June

Italian Unemployment Rate Hits Record High In June


Italy's unemployment rate increased to a record high in June, data released by statistical office Istat showed Tuesday.
The unemployment rate increased to 10.8 percent in June from 10.6 percent in May, which was revised up from 10.1 percent. Economists were looking for a jobless rate of 10.3 percent. The latest figure was the highest recorded since 1999.
There were around 2.79 million unemployed persons in June, up 2.7 percent compared to May. Year-on-year, unemployment climbed 37.5 percent, data showed.
At the same time, the employment rate edged down to 56.9 percent in June from 56.8 percent in the previous month. the number of persons in employment decreased by 0.1 percent month-on-month to around 22.97 million in June. Compared to June 2011, the number of employed increased by around 11,000, data showed.



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