In the latest provisional data released for November 2023, Italy’s employment landscape reflects noteworthy shifts, portraying a mixed picture of the nation’s job market.
Employment:
- Overall employment has seen a marginal increase of 0.1%, equivalent to 30,000 more people joining the workforce.
- The uptick is led by women, employees, and individuals aged 34 and above. However, a decrease is noted among the self-employed and the 15-34 age group.
- The overall employment rate remains steady at 61.8%.
Unemployment:
- The number of unemployed individuals has decreased by 3.3%, marking a reduction of 66,000 individuals. This decline spans across all age groups, except for a slight increase among those aged 25-34.
- The total unemployment rate has dropped to 7.5%, reflecting a 0.2 percentage point decrease. The youth unemployment rate is now at 21.0%, showing a significant 2.5 percentage point decrease.
Inactivity:
- Inactivity has grown by 0.4%, representing an increase of 48,000 individuals aged between 15 and 64.
- This rise includes both men and women but is limited to individuals under 35. Among those aged 35-49 and over 50, there is a decrease in inactive individuals. The inactivity rate has edged up to 33.1%, marking a 0.1 percentage point increase.
Quarterly Overview (September-November 2023):
- Comparing the data with the previous quarter (June-August), there is an overall employment increase of 0.6%, equivalent to 130,000 more employed individuals.
- This growth is accompanied by a rise in job seekers (+0.7%, or +14,000 individuals) and a decrease in inactive individuals (-1.1%, or -137,000 individuals).
Annual Comparison (November 2023 vs. November 2022):
- In comparison with November 2022, the number of employed individuals has surged by 2.2% (+520,000 individuals), impacting men, women, and all age groups except the 35-49 age group due to negative demographic dynamics.
- Both the number of job seekers (-3.6%, or -71,000 individuals) and inactive individuals aged 15 to 64 (-3.6%, or -459,000) have seen a decline compared to November 2022.