Two million are unemployed. The employment rate is stable compared to the previous quarter at 60.2%, on the highest levels since 2004, the beginning of the historical series
Persons seeking employment in Italy fell below two million in the third quarter to 1,981,000, for the first time since 2011. This is what emerges from the Istat labor market tables (seasonally adjusted data), according to which the employment rate in the third quarter it fell to 7.9% (-0.2 points on the previous quarter, -1.1 points on the year), the lowest value since 2009. The employment rate is stable compared to the previous quarter at 60.2 %, on the highest levels since 2004, the beginning of the historical series. Compared to the third quarter of 2021, the employment rate grew by 1.1 points.
Two million are unemployed
The employment rate in the third quarter is stable compared to the second quarter at 60.2% (+1.1 points on a year-on-year basis) while the unemployment rate is decreasing (-0.2 points) and reaches 7.9% the lowest since 2009. The inactivity rate for 15-64 year olds increases slightly on the previous quarter (0.1 points) and decreases by 0.4 points on the same period of 2021, settling at 34.5%. In trend terms, the increase in employment (+247 thousand units, +1.1% in one year) involves both permanent employees (+158 thousand, +1.1%) and fixed-term employees (+23 thousand , +0.7%) – and independents (+66 thousand, +1.4%). The decline in the number of unemployed (-284 thousand in one year, -12.9%) and of inactive people between the ages of 15 and 64 (-254 thousand, -1.9% in one year) continues. Employed people fall below 2 million for the first time since 2011. Employee job positions in the third quarter of 2022 increase by 0.5% compared to the previous quarter, with a slightly higher growth for the full-time component (+0.6% ) compared to part-time work (+0.3%). Hours worked per employee decreased in economic terms (-0.4%) and growth slowed down in trend terms (+1.9%). The reduction in recourse to layoffs continues (6.7 hours for every thousand hours worked). The vacancy rate, stable compared to the previous quarter at 2.2%, increased by 0.1 points compared to the third quarter of 2021. The labor cost per employee work unit (AWU) also remained unchanged compared to the previous quarter, for effect of a slight increase in wages (+0.1%) and a decrease, of equal intensity, in social security contributions (-0.1%). On an annual basis, labor costs grew by 0.2%, thanks to the increase in the wage component (+0.3%) stronger than the reduction in social security contributions (-0.2%).