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Italy's youth jobless rate hits new high

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Italy's youth jobless rate hits new high
The annual increase of Italy's unemployment rate was the highest in the EU. Jobs photo: Shutterstock
11:50 CET+01:00
Youth unemployment in Italy hit a new high of 43.3 percent in October, while the overall jobless rate also rose, national statistics agency Istat said on Friday.

The jobless rate for young people in Italy jumped 0.6 percent in a month and 1.9 percent on October 2013, Istat said.

Italy is the third-worst country in the EU for young people to find work, after Spain, where 53.8 percent of young people are unemployed, and Greece (49.3 percent).

While overall Italy’s workforce faces a much lower unemployment rate, of 13.2 percent, job prospects are getting worse across the board.

The national jobless rate rose 0.3 percent on September and was up by 1.0 percent compared to a year ago.

The annual increase was the highest in Europe, with Italy registering the sixth-highest unemployment rate of the EU’s 28 countries.

In Italy, female jobseekers are less fortunate than their male counterparts. Women’s unemployment in Italy rose to 14.3 percent in October, while the jobless rate for men reached 12.4 percent.

Prime Minister Matteo Renzi is trying to combat chronic unemployment by pushing his so-called Jobs Act through parliament, although the premier is facing strong opposition from unionists.

Under the plans, companies will be able to fire staff more easily; a move Renzi says will create a more mobile workforce. Those opposed to the bill argue that the government is stripping workers of their rights.

READ MORE: 'I want to get Italians into work': Renzi

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