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In April, the employment rate reached 62.3%, a new record – Purchasing Managers’ Index (PMI).

In April, the employment rate reached 62.3%, a new record – Purchasing Managers’ Index (PMI).

In April 2024, the month-on-month employment rate rose to 62.3%, setting a new record. Compared to March, employment increased by 84 thousand units (+0.4%). Istat communicates this, issuing provisional estimates for the employed and unemployed. The unemployment rate drops to 6.9%, while the inactivity rate stabilizes at 33.0%.

Employment is growing (+0.4%, equivalent to +84 thousand units) for men and women, employees and the self-employed, and for all age groups except for the age group 25-34 years, which recorded a decline. The number of job seekers decreases (-3.0%, equivalent to -55 thousand units) for both genders and in all age groups except for the age group 15-24 years. The overall unemployment rate fell to 6.9% (-0.2 points), and the youth unemployment rate remained unchanged at 20.2%.

The growth is associated with a decrease in the number of people looking for work (-2.3%, equivalent to -44 thousand units) and inactive people (-0.2%, equivalent to -19 thousand units). However, on an annual basis, the number of employees in April 2024 exceeds the number of employees in April 2023 by 2.2% (+516 thousand units). The increase includes men, women and all age groups. The employment rate in one year rises by 1.1 percentage points. Compared to April 2023, both the number of people looking for work decreased (-11.8%, equivalent to -236 thousand units) and the number of inactive people aged 15 to 64 years (-1.3%, equivalent to -166 thousand units). (thousands).

Istat confirms that the stabilization of the number of inactive people is a combination of the increase recorded among men aged 25 to 34 years and the decrease observed among women and other age groups. The inactivity rate remained stable at 33.0%.

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In April, Istat also registered 516 thousand more workers compared to April 2023. Most importantly, contracts for permanent employees (+444 thousand) and self-employed workers (+154 thousand) are growing, while the number of fixed-term employees is decreasing (-82 thousand). ). Total employment for the month was close to 24 million, reaching 23 million 975 thousand units.

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Compared to April 2022, there are approximately 1 million additional workers (+911 thousand) while compared to April 2021, the increase is 1.61 million units. The number of female workers increased by 247 thousand units in April 2024 compared to April 2023, compared to an increase of 270 thousand male workers to reach 10 million and 194 thousand units. During the month, job growth among women was greater, with an increase of 62,000 employees compared to March for females and 22,000 units among men.

The unemployment rate fell to 6.9% in April, the lowest rate since December 2008, when it held at the same level. This is what appears from the Istat report tables on the employed and the unemployed, according to which the rate of people looking for work is at the lowest rate in more than 15 years. The unemployment rate among young people between the ages of 15 and 24 remained stable at 20.2%, the same rate recorded in March, and at its lowest level since February 2008 (20.2%).

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