Unemployment Rate in Italy
GDP dodged a technical recession in Q1, as both the external sector—thanks to a strong Easter season—and domestic demand fueled growth. Household spending likely continued to expand, benefiting from stronger consumer sentiment, although still-high inflation should have limited the scope of the increase. Additionally, business sentiment improved notwithstanding tight financing conditions, which should have underpinned investment activity. Meanwhile, the government recently confirmed a reduction of its fiscal deficit target to 4.5% for 2023. Moreover, it approved tax cuts to employees with low to middle incomes, loosened rules on short-term job contracts and scaled back a ‘citizen wage’ unemployment benefit. Lastly, on 21 April, S&P maintained Italy’s rating outlook as stable, citing an expected decline in public debt as a positive factor but highlighting risks of failing to deliver critical reforms.
Italy Unemployment Rate Chart
This chart displays Unemployment Rate for Italy from 2013 to 2022.
Italy Unemployment Rate Data
2017 | 2018 | 2019 | 2020 | 2021 | |
---|---|---|---|---|---|
Unemployment (% of active population, aop) | 11.3 | 10.6 | 9.9 | 9.3 | 9.5 |