Employment is on the rise: +42K in September. Unemployment rises to 7.4%, and the number of inactive people decreases

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Employment continues to grow in Italy as well in September, by 42 thousand units compared to the previous month and by 512 thousand units compared to the previous year. It shows from Istat flash statistics. The month-on-month increase is accompanied by a decrease in the number of inactive people (-92 thousand) and an increase in the number of unemployed people actively looking for work (+35 thousand).

Employment rose 0.2% in September

In September 2023, compared to the previous month, the 0.2% increase in employment “is a combination of growth observed among men, permanent employees and the self-employed, under the age of 35 and among people aged at least 50, on an annual basis.” ». On the one hand, and the decline recorded among women and employees with specific contracts and among the age group 35-49 years, on the other hand.” The growth in the number of job seekers (+1.9%) during the month included women and relates to all age groups, while a decrease in the number of inactive people was recorded. Between 15 and 64 years (-0.7%) among men. Women and all age groups. The number of employed people in September 2023 exceeds the number of employed people in September 2022 by 2.2%. “The increase includes men, women and all age groups, with the exception of people between the ages of 35 and 49 years.” Due to negative demographic dynamics: the employment rate, which is generally increasing by 1.4 percentage points, is also rising in this age group (+0.6 percentage points) because the decline in the number of employed people aged 35 to 49 years is less pronounced than in the corresponding total population.” We read in the text

The unemployment rate increased to 7.4%, and the number of inactive people decreased

In September, the employment rate and unemployment rate rose by 0.1 percentage points, reaching 61.7% and 7.4% respectively due to a decline in the inactivity rate, which fell to 33.2% (-0.2 points). Istat also indicates that the youth unemployment rate, which is 21.9%, decreased by 0.1 points.

+80 thousand employees per quarter

In the third quarter as a whole, employment increased by 80,000 workers (+0.3%) compared to the second quarter. The employment growth observed in the quarterly comparison is associated with a decrease in the number of people looking for work (-1.9%, equivalent to -36 thousand units) and inactive people (-0.5%, equivalent to -63 thousand units).

The number of employees on fixed-term contracts is decreasing year on year

The number of employees in September 2023 exceeds the number of September 2022 by 2.2% (+512 thousand units). The increase includes men, women and all age groups, except for people aged 35-49 years due to negative demographic dynamics: the employment rate, which is generally increasing by 1.4 percentage points, is also rising in this age group (+0.6 points). ) because the decline in the number of workers aged 35 to 49 is less pronounced than in the corresponding total population. Compared to September 2022, the number of people looking for work decreased (-5.1%, equivalent to -101 thousand units) and the number of inactive people aged between 15 and 64 years (-3.6%, equivalent to -459 thousand units). The number of workers reaches 23,656,000, compared to September 2022, an increase of 443,000 permanent workers and 115,000 self-employed workers. The number of employees on fixed-term contracts is 47,000 fewer.