Italy's Unemployment Rate Reaches Lowest Level Since 2007

Italy's unemployment rate experienced a significant drop in July, falling to 60%, which represents a decrease of 0.3 percentage points compared to June. This marks the lowest level of unemployment the country has seen since June 2007, according to provisional data released by Istat on Monday. The national statistics agency reported that the number of unemployed individuals in July was 1.532 million, which is a reduction of 74,000 compared to June and a decrease of 114,000 in comparison to July 2024. Moreover, the decline in unemployment has affected both sexes and all age groups, indicating a broad improvement in the job market. Notably, the youth unemployment rate saw a remarkable drop of 1.4 percentage points, now standing at 18.7%. This positive trend may suggest improvements in Italy's economic conditions and job creation initiatives aimed at both youths and older demographics alike. Related Sources: • Source 1 • Source 2