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Italian wages rise at lowest rate since 1982

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Italian wages rise at lowest rate since 1982
Hourly wages in Italy last year rose at their lowest level since 1982. Photo: Flickr
12:23 CET+01:00
Hourly salaries in Italy rose just 1.4 percent on average in 2013 – the lowest rate since 1982 – the national statistics agency, Istat, said on Tuesday.

However, wages increased more than the level of inflation – 1.2 percent – meaning real incomes nudged up by 0.2 percent last year, Istat said.

Italy's economy stopped contracting in the third quarter of 2013, technically bringing to an end its longest post-war recession, but it is still struggling with an unemployment crisis and rising debt and deficit levels.

Figures released by the Bank of Italy on Monday revealed that the rate of poverty rose from 12 percent to 14 percent between 2010 and 2012, while half of Italian families live on less than €2,000 a month.

Jobless rates have reached a record high of 12.7 percent and unemployment among 15- to 24-year-olds stands at 41.6 percent.

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