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Govt layoff payouts up over 5% in February

Recovery slowgoing after worst-ever postwar recession

13 March, 14:08
Govt layoff payouts up over 5% in February (ANSA) - Rome, March 13 - Social-security agency INPS said Thursday that benefits to cover people who had been temporarily laid off or had their hours slashed by firms in financial trouble were paid out to cover 83.3 million hours of lost labor in February, up 5.3% compared to the same month last year. The data comes in addition to Italy's high unemployment, which is just shy of 13%, and well over 40% for people aged 15-24, as the country slowly recovers from its worst recession since World War II. Premier Matteo Renzi has vowed to tackle job creation and spurring growth in his fledgling government's agenda.

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