July 2023 Sees a 0.3% Decline, Unemployment in Italy Rises by 1.9%, and Inactivity Remains Stable

September 8, 2023

In July 2023 the number of employed people in Italy fell, while unemployed and inactive persons increased.

On a monthly basis, the decrease of employment (-0.3%, -73 thousand) concerned both men and women, and people aged 25-49. Overall, the employment rate dropped to 61.3% (-0.2 p.p.).

In the last month, the growth in the number of unemployed persons (+1.9%, +37 thousand) involved both genders and persons between 25 and 49 years of age. The unemployment rate rose to 7.6% (+0.2 p.p.), the youth rate declined to 22.1% (-0.2 p.p.).

In July, the number of inactive persons aged 15 to 64 increased for men and for people under the age of 35. The inactivity rate remained stable at 33.5% .

In the period May-July 2023, with respect to the previous quarter (February-April 2023), employment increased (+0.5%, +119 thousand).

In the last three months, a drop was registered for both unemployed persons (-3.2%, -64 thousand) and inactive people aged 15-64 years (-0.5%, -69 thousand).

Compared with July 2022, the number of employed persons rose by 1.6% (+362 thousand), the growth concerned both genders and all age groups except 35-49 years; the employment rate showed an increase of 1.1 p.p. .

On a yearly basis, the rise of employed people was accompanied by a decrease of both unemployed (-3.8%, -76 thousand) and inactive persons aged 15-64 (-2.9%, -371 thousand).

Source: ISTAT
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