June 17, 2022
According to the National Institute of Statistics (ISTAT), Italy’s labor input outpaced economic growth in the first quarter of this year.
According to ISTAT, labor input increased by 1.5 percent over the previous quarter and by 6.7 percent year over year.
Both results outperformed the Italian economy, which grew by 0.1% quarter over quarter and 6.2 percent year over year.
In addition, labor input grew faster than the overall employment rate. Italy had 120,000 more jobs at the end of the first quarter than it did at the end of the fourth quarter of 2021, a 0.5 percent rise.
The Italian economy added 905,000 new jobs in the year ended March 31, up 4.1% from the previous year.
The amount of hours worked in a country is measured by labor input. Because, unlike traditional measures of employment, part-time and full-time workers are weighted differently in the computations, it is an essential indicator of a country’s employment situation.
Source: The Financial Express
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