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Italy’s Jobless Rate Rises to Record 12.9%
Unemployment in Italy climbed to a seasonally adjusted 12.9% in January, the highest level since the government's ISTAT began tracking the statistic in 1977.
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Unemployment in Italy climbed to a seasonally adjusted 12.9% in January, the highest level since the government's ISTAT began tracking the statistic in 1977.
The agency says nearly 3.3 million people were registered as unemployed last month, up 60,000 from December's volume. The jobless rate among adults younger than 25 rose to 42.4% from 41.7% over the same period.
ISTAT notes that Italy's official employment rate remains at only about 55%. New Prime Minister Matteo Renzi is preparing a jobs reform measure intended to simplify the country's complex employment contract practices, lower labor costs and increase the number of jobs available.
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