Italy job­less rate at five-year low

China Daily (USA) - - BUSINESS -

Ital­ian un­em­ploy­ment dropped 0.6 per­cent to 10.9 per­cent in July over the same pe­riod last year, na­tional statis­tics bu­reau ISTAT re­ported. This is the low­est un­em­ploy­ment rate since 2012, ac­cord­ing to Prime Min­is­ter Paolo Gen­tiloni, who cred­ited the gov­ern­ment’s Jobs Act la­bor re­form for the phe­nom­e­non. “Un­em­ploy­ment at 2012 lows. Good re­sults from Jobs Act and re­cov­ery. Still a lot to do but en­cour­ag­ing trend,” Gen­tiloni tweeted. In its lat­est re­port on the la­bor mar­ket, ISTAT re­ported that 78,000 new jobs were cre­ated in the sec­ond quar­ter (up 0.3 per­cent over the pre­vi­ous quar­ter). There were 149,000 new hires (up 0.9 per­cent) in the pe­riod, of which eight in 10 were on tem­po­rary con­tracts.

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