Italy Unemployment at 10.2% in February Lost 945 Thousand Employees

In Italy In February, the unemployment rate, which stood at 10.2%, fell by 0.1% compared to January, but increased by 0.5% on February 2020. According to Istat, the inactivity rate between 15 and 64 years is 37%, stable on January and up 2.1 points compared to February, before the start of the restrictions linked to the pandemic. The unemployed in February amounted to 2,518,000, an increase of 21 thousand units compared to February 2020.

“In February the employed were 22,197,000, that is 945 thousand less than in February 2020”, notes Istat, explaining that compared to January there was substantial stability (+ 6 thousand).

“The repeated economic downturns in employment, recorded from the beginning of the health emergency until January 2021 – writes the Institute of Statistics – led to a drop in employment compared to February 2020 (-4.1% equal to -945,000 units). The decrease involves men and women, employees (-590,000) and self-employed (-355,000) and all age groups. The employment rate falls, in one year, by 2.2 percentage points, reaching 56, 5% “.

The unemployment rate of young people aged 15-24 in February was 31.6% with a drop of 1.2 points on January and a 2.6 point increase on February 2020 before the start of activity restrictions for prevent contagion from Covid. Young people at work in February were 919 thousand, 15.7% of the total, with a decrease of 159 thousand units compared to a year earlier and with an increase of 4 thousand units on January.

 

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