Unemployment in Italy

Italy Unemployment | Economic News & Forecasts

Italy - Unemployment

On 17 October the European Commission (EC) rebuked Italy for breaching European deficit rules after the populist coalition submitted a spendthrift 2019 budget on 15 October. Despite vigorous criticism from the EC and a significant increase in bond yields in the aftermath, the budget has outlined raising the target for next year’s fiscal deficit to 2.4% of GDP and includes handouts to the unemployed and pensioners. The clash with European institutions is likely only the beginning of a fiery exchange and could result in the launching of a Significant Deficit Deviation Procedure. To complicate matters, these political tensions and financial volatility come at a time when, according to both hard and survey-based data, the economy looks to have shifted into a lower gear: Consumer spending is being weighed by weak wage dynamics due to stagnating productivity growth, while business investment is being held back by rising interest rates and a mediocre business environment. On the bright side, credit continued to expand—albeit modestly—in Q3, while external demand was solid in July–August.

Italy - Unemployment Data

2013  2014  2015  2016  2017  
Unemployment Rate12.1  12.6  11.9  11.7  11.3  

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Italy Unemployment Chart

Italy Unemployment
Note: Unemployment in % of active population.
Source: National Statistical Institute (ISTAT)

Italy Facts

Bond Yield3.41-0.11 %Nov 09
Exchange Rate1.140.65 %Nov 09
Stock Market19,258-0.99 %Nov 09

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