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IMF's Lagarde alarmed at youth unemployment in Italy

Says worried about plight of under-25s in Europe

28 January, 12:39
IMF's Lagarde alarmed at youth unemployment in Italy (ANSA) - New York, January 28 - Christine Lagarde, the managing director of the International Monetary Fund (IMF), said Tuesday that she was worried about high youth unemployment rates in Italy and other parts of Europe.

"I'm worried that almost a quarter of young Europeans under 25 cannot find a job," Lagarde said.

"In Italy and Portugal over one third of youths under 25 are unemployed. "And in Spain and Greece they are more than half of the overall age group". Over four in 10 of under-25s in Italy who are considered part of the working population - meaning they are not in education and are actively looking for work - are unemployed, according to national statistics agency Istat.

Overall unemployment has climbed to a record high of 12.7% and is expected to keep rising in 2014 even though Italy is set to return to positive growth this year after its longest recession since World War II.