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Italy Jobless Rate Lowest Since 2007

Italy's jobless rate decreased to the lowest level in more than twelve years in April, data from the statistical office ISTAT showed on Wednesday.

The jobless rate fell to 6.3 percent in April from 8.0 percent in March. Economists had expected the rate to rise to 9.5 percent. A similar lower rate was last reported in November 2007.

The number of jobseekers decreased to 1.543 million in April from 2.027 million in the preceding month.

The employment rate fell to 57.9 percent in April from 58.6 percent in the previous month.

The unemployment rate among the youth aged between 15 and 24, decreased to 20.3 percent in April from 26.5 in the prior month. This was the lowest since early 2008.

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