Unemployment still falling: in August, down 11.9%. Occupied 69 thousand more – The Republic

Milan – New decline for the unemployment rate in Italy: in August 2015, the jobless rate stood at 11.9%, down for the second consecutive month and the lowest level since February 2013. According to provisional figures from Istat, the decline was 0.1 percentage points from the previous month and by 0.7 points compared to August 2014. In the twelve months unemployment decreases by 5%, corresponding to 162 thousand fewer people looking for work. For the Minister of Economy, Pier Carlo Padoan, they are “permanent improvements result of structural choices of the government.” For connection of Labour, Giuliano Poletti, “Istat arrive today three good news: increasing the employed, the unemployed fall and decrease the inactive. There are three confirmations of a positive trend in the labor market that is consolidating.”

Positive signals come into effect for the growth of busy : after +0.1 and + 0.3% in June and July, the last month’s estimate of employed grew by another 0.3% with an increase of 69 thousand units. “This growth is determined by the increase in workers employed (+70 thousand), mainly in term (+ 45 000). The employment rate increased by 0.2 percentage points, reaching 56 , 5%. For the full year employment grew by 1.5% (+325 thousand persons employed) and the employment rate by 0.9 points, “says Istat.

data are strengthened by lower estimate of inactive , that is, those who do not seek work: after declining in June ( -0.4%) and growth in July (+ 0.6%), fell last month by 0.6% (-86 thousand inactive persons), returning to the level of June. The inactivity rate is 35.6%, down 0.2 percentage points. Yoy inactivity is down by 1.7% (-248 thousand inactive persons) and the inactivity rate by 0.5 points.

Positive numbers overall are resized by the new rise in youth unemployment , whose rate rises by 0.3 points to stand at 40.7%. The estimate of the employed aged 15-24 increased by 0.8% compared to July (+7 thousand). On a monthly basis, the youth employment rate, 15.5%, growing by 0.1 percentage points. The estimated number of young unemployed increased from the previous month (+ 2.1% to + 13 thousand). The proportion of unemployed young people between 15 and 24 from all young people of the same age group is 10.6% (ie just over a young man of 10 is unemployed). This incidence increases by 0.2 percentage points last month.

The data disseminated by Statistics follows the surprising drop in the July jobless: then the jobless rate had fallen to 12% . Meanwhile, it is screwed havoc on the numbers of Italian labor, particularly expected from information and analysts because they incorporate the effects of the Jobs Act and the de-contribution for new employees stable. After the summer hustle and bustle, however, the Ministry of Labour has decided to suspend the publication of data on new contracts, which are flanked surveys INPS and – in fact – the Istat data on unemployment. These are very different from the first two: the Institute proceeds with an investigation ‘sample’ photographing the stock of employed and unemployed in the country, while the data on the contracts are flow and concern ignitions or terminations of employment relationships (thus more contracts may refer to a single person).

The update today, in view of a desirable uniformity, Istat began reporting monthly indicators on employment and employees indipedenti. Well, in the summer months (June-August 2015) employees increased by 0.6% (+107 million) compared to the previous quarter, while the independents fell by 0.3% (-15 thousand). “In trend terms employees grew by 1.9% (+324 million), fully explaining the employment growth in twelve months, while independents remain unchanged”, says Istat. But if you look at the composition of labor, “among employees was recorded last month increased by 0.2% for the permanent component (+25 thousand) and 1.9% for the term (+ 45 000). In the period from June to August 2015 permanent employees increased by 0.1% compared to the previous quarter (+13 thousand), while those completed up 4 , 1% (+94 million). Compared to the same month last year employed permanent grow by 1.3% (+188 thousand) and forward by 5.9% (+136 million), “says Istat revealing the effects of longer-term measures introduced.

The contribution of different types of employment to the recovery of the employed: light gray employees ‘permanent’, red employees completed and dark gray independents

The Italian figure was released along with the German one: in Germany, unemployment remained stable at 6.4 % in September to its lowest since reunification. They are, however, slightly increased the jobless, 2 thousand units, against expectations for a decline of 5 thousand people: even the German economy can not be said at all immune to the international turmoil, waiting to see what it will mean the Volkswagen case in terms of work and employment. A level of Eurozone , the unemployment rate remained stable at 11%, while in EU-28 countries is 9.5%, in both cases, as in the previous month. A year earlier, in August 2014 the unemployed were respectively 11.5% and 10.1%.