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Youth unemployment in Italy reaches record of 40.1%

First time rate crosses 40% mark

01 October, 10:38
Youth unemployment in Italy reaches record of 40.1% (ANSA) - Rome, October 1 - Youth unemployment in recession-hit Italy crossed the 40% mark for the first time in August, when 40.1% of 15-to-24-year-olds on the job market were out of work, national statistics agency Istat said Tuesday. According to provisional data, the youth unemployment rate was 0.4% higher in August than in July and 5.5% up on the same month in 2012. The rate had never been over 40% since Istat started using its current calculation method in January 2004 for monthly data and in the first quarter of 1997 for quarterly data.

The agency said 667,000 under-25s were without a job and actively looking for work, according to preliminary data not adjusted for seasonal variations.

Young people who are in eduction and training are not considered part of the job market and neither are those who have given up hope of finding a job and not actively looking for one.

Istat said the young people who are unemployed and actively looking for work amounted to 11.1% of all people in the 15-24 age range.