Italy Aug unemployment rate at multi-year low of 7.3%, as job growth resumes
ROME, Oct 2 - Italy's unemployment rate fell unexpectedly in August to 7.3%, the lowest since January 2009, national statistics bureau ISTAT reported on Monday, as a net 59,000 jobs were created during the month.ISTAT revised down July's rate to 7.5% from a previously reported 7.6% and also lowered the previous two months' data.
In the three months to August, employment was up by 129,000, or 0.5%, compared with the March-to-May period, ISTAT said.In August, the youth unemployment rate, measuring job-seekers between 15 and 24 years old, was broadly stable at 22.0% versus 22.1% the month before. The Italian economy shrank 0.4% in the second quarter from the previous three months and most analysts expect activity to remain weak over the near term, partly to the recent rise in interest rates.
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