According to the latest surveys, among young people it fell to 22.3% (-0.1 points). The growth in employment compared to the previous month (+22 thousand) brings the employed to 23 million 349 thousand. The number is 297,000 higher than last year
The labor market in Italy continues to show signs of dynamism. According to the latest Istat surveys, in March of this year the total unemployment rate fell to 7.8% (-0.1 points), while the youth rate fell to 22.3% (-0.1 points ). “The stability of the number of inactive people – between 15 and 64 years old – is a synthesis of the growth among men and those aged 50 or over and the decrease among women, aged 15-24 and 35-49. The inactivity rate remains unchanged at 33.8%”, explains Istat in its monthly report.
Employment increased by 0.1% in March
In the same period, the employed increased by 22 thousand units (+0.1%) compared to February and by 297 thousand units (+1.3%) compared to March 2022. Istat underlines that the employment rate is stable at 60.9% on February and rises by 0.9 percentage points on March 2022. “The growth in employment compared to the previous month brings the employed to 23 million 349 thousand”, reads the report. The increase compared to March 2022 is due to the growth “of permanent and self-employed employees and against a decrease in temporary employees”, commented Istat.
The number of inactive people remains stable
The Statistical Institute specifies that in March the increase in employed persons compared to the previous month is associated with the decrease in the unemployed and the substantial stability of the inactive. Over the month, the increase in employment concerns men and women, employees and all age groups except that of 25-34 year olds, which instead are down. Compared to February 2023, the number of people looking for work decreased (-1.1%, equal to -22,000 units) among men, women and those aged 35 or over. The stability of the number of inactive people – between 15 and 64 years of age – is a synthesis of the growth among men and those aged 50 or over and the decrease among women, aged 15-24 and 35-49. The inactivity rate remains unchanged at 33.8%. Comparing the first quarter of 2023 with the previous one, there is an increase in the number of employed people (+0.4%, equal to +90 thousand units).
Compared to March 2022, job seekers and NEETs are decreasing
The growth in employment, observed in the quarterly comparison, is associated with the increase in job seekers (+0.6%, equal to +12 thousand units) and the decrease in inactive people (-1.0%, equal to – 125 thousand units). The number of employed in March 2023 exceeded that of March 2022 by 1.3% (+297 thousand units). The increase involves men, women and all age groups, with the exception of the 35-49 year olds due to the negative demographic dynamics; the employment rate, which overall is up by 0.9 percentage points, also rises in this age group (+0.5 points) because the decrease in the number of employed people aged 35-49 is less marked than that of the corresponding population overall. Compared to March 2022, both the number of people looking for work decreased (-5.1%, equal to -106 thousand units) and the number of inactive people between the ages of 15 and 64 (-2.2%, equal to -281 thousand ).