Unemployment in Italy increased to record high levels in June with economic activity weakening amid the government's austerity measures and impacts of the unresolved debt crisis in the region.
The seasonally adjusted unemployment rate came in at 10.8 percent in June, which is the highest figure since 2004, preliminary data released by statistical office Istat showed. In May, the jobless rate was 10.6 percent, which was revised up from 10.1 percent. Economists were looking for a jobless rate of 10.3 percent.
There were around 2.79 million unemployed persons in June, up 2.7 percent compared to May. Year-on-year, unemployment climbed 37.5 percent.
Unemployment rate among youth, aged between 15 and 24, was 34.3 percent in June, down from 35.3 percent recorded in May.
The employment rate, meanwhile, edged down to 56.9 percent in June from 57 percent in the previous month. The number of employed decreased by 0.1 percent month-on-month to around 22.97 million in June. Year-on-year, employment remained broadly unchanged.
Italy's annual inflation rose marginally to 3.7 percent in July from 3.6 percent in June. Core inflation, excluding energy and food, remained steady at 2.2 percent.
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org