Italy : Unemployment Rate Rises To 9.8% and To 35.9% For The 15-24

Italy’s unemployment rate increased for the seventh consecutive month in March to its highest level in at least nine years, data released by the statistical office ISTAT revealed Wednesday.

The seasonally adjusted jobless rate rose to 9.8 percent from February’s 9.6 percent, which was upwardly revised from the 9.3 percent reported earlier.

The latest jobless rate is the highest since ISTAT started the series in 2004. Economists had forecast a figure of 9.4 percent for March. A year ago, the rate was 8.1 percent.

Joblessness among the 15-24 age group also increased with the youth unemployment rising to 35.9 percent from 33.9 percent in the previous month. This figure is also a series high.

The number of unemployed rose by 66,000 or 2.7 percent to 2.506 million. The jobless total increased by 23.4 percent from the year-ago period.

Meanwhile, the employment rate dipped to 57 percent in March from 57.1 in February. The activity rate edged up to 63.3 percent from 57.1 percent…

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