Rome: Italy's employment rate climbed to an unprecedented 62.7 percent in October, marking the highest level observed since the statistical series commenced in January 2004, as per the latest data released by the Italian National Institute of Statistics (Istat).
According to Emirates News Agency, the Italian News Agency (ANSA) mentioned that the national statistics agency reported 24.208 million individuals were employed in Italy during October. The figures showed an increase in employment by 75,000 people compared with September and 224,000 compared with October of the previous year, contributing to a 0.1 percentage point rise in the employment rate, based on provisional data.
Istat further noted that the unemployment rate experienced a decline of 0.2 percentage points, settling at 6.0 percent in October. Additionally, the youth unemployment rate saw a significant drop of 1.9 percentage points, reaching 19.8 percent. Meanwhile, the inactivity rate remained unchanged at 33.2 percent.