GIOVENTU » Italy Youth Unemployment hits 41.9%
Italy Youth Unemployment hits 41.9%
The Italian National Bureau of statistics (ISTAT) has recently announced that youth unemployment in Italy reached 41.9 percent in the first quarter of this year. It is the highest level recorded since 1977.
It is a state of emergency as the risk for the country is to lose the contribution of its jobless youth to the economy forever. For this reason youth unemployment will be the top issue at the next meeting of the European Council to be held in Brussels on 27-28 June.
The tragic record is spread all through the country and affects mainly males, apart from the South where women are the more affected. In the South 52%, more than a half of youth labour force is looking for work, with values of 51.2% for males between 15 and 24 years and 52.8% for young women.
On the whole the number of people seeking employment in the age group 15 to 24 reached 696,000 units '(+65,000 compared to the previous year).
In April alone, the unemployment rate for 15 to 24 years old jumped to '40.5%, up 0.2 percentage points from the previous month and by 5.9 points in the trend comparison. Among people 15 to 24 years old 656 thousand are looking for work, representing 10.9% of the population in this age group. The number of inactive individuals aged between 15 and 64 years increased by 0.2% compared to the previous month (+25 thousand units').
“Eurostat” announced that Italy, with its 40.5% of unemployed young people, is in fourth place after Greece, Spain and Portugal.
Unemployment in the euro zone reached in April, the highest level ever reached from 1995, 12.2% versus 11, 2 of April 2012. The same thing was for young people, 24.4%.
In the EU-27 unemployment rate stood at 11% in April (the same level of March) compared with 10.3% in April 2012. In the euro zone, however the new record was determined by marked compared with March 2013, when the unemployed amounted to 12.1%.
In absolute terms there are 19.3 million unemployed people in the Euro zone (26.5 in the EU) 95 thousand more than in March and 1.6 million more compared to twelve months ago. Countries with the lowest rates are Austria (4.9%), Germany (5.4) and Luxembourg (5.6). At the top of the list for unemployment are Greece (27%), Spain (26.8) and Portugal (17.8). Overall EU and compared to a year ago, there are 18 countries that have recorded a growth of unemployment, while in 9 there was a decline.
New records were recorded also in terms of youth unemployment, ie those under 25, in April in the euro zone (but also in the EU, where the rate came to 23.5%) where overall, the young unemployed in the 17 euro zone countries is 3.6 million (5.6 EU), 188,000 more than in a year earlier when the youth unemployment rate was 22.6%. Germany, Austria and the Netherlands are the countries with fewer young people out of work, with percentages ranging between 7.5 and 10.