Italy’s jobless rate falls to 7.2 pc, lowest in over 15 years

Italy’s unemployment rate decreased to the lowest level in more than 15 years in March after rising slightly in the previous month, the statistical office ISTAT reported on Friday.

The jobless rate dropped to 7.2 per cent in March from 7.4 per cent in February. Meanwhile, economists had expected the index to rise to 7.5 per cent. In the corresponding month last year, the rate was 7.9 per cent.

Further, the latest jobless rate was the lowest since January 2009, when it was also the same 7.2 per cent.

At the same time, the employment rate edged up to 62.1 per cent in March from 61.9 per cent in the previous month.

The youth unemployment rate dropped to 20.1 per cent in March from 22.4 per cent a month ago, data showed.