21,000 more workers in May – Corriere.it

Employment growth continues in May 2023 but slows down: the increase of 0.1%, equal to 21,000 more employed than in April. what is reported from the recent provisional data of Istat which highlights 383,000 more employed than in the same month of 2022 (+1.7%), due to the increase in permanent and self-employed employees which more than offset the decrease in temporary employees. The increase in employment compared to May 2022 involves men, women and all age groups, with the exception of the 35-49 year olds due to the negative demographic dynamics.

The monthly comparison shows an increase in employment among men, the self-employed, the 25-34 year olds and those aged at least 50, while a drop among women, temporary employees, the youngest (15-24 years) and the 35 -49 years old.
The employment rate rises to 61.2% (+0.1 points).
Comparing ithe March-May 2023 quarter with the previous one (December 2022-February 2023), the increase in the number of employed by 0.5%, equal to 120 thousand more units.

All in all, in May 2023, compared to the previous month, the increase in the employed is associated with the decrease in the unemployed of 7.6% (-0.1 points), the lowest figure since April 2020, when it was 7.5% in an anomalous month due to the restrictions of the anti-Covid lockdown. To find a lower previous result, it is necessary to go back to May 2009, 14 years ago, when the unemployment rate stood at 7.5%. The youth unemployment rate, on the other hand, rose to 21.7% (+0.9 points). Compared to April, the number of job seekers (-1.7%, equal to -34 thousand units) among men, aged 25-34 and those aged at least 50. Compared to May 2022, the decrease reaches 4.8%, equal to -98 thousand units while in the March-May 2023 quarterly comparison, the decrease in job seekers is 1.6%, equal to -33 thousand units. On the other hand, the number of inactive people was quite stable in May compared to the previous month between 15 and 64 years (-2.7%, equal to -351 thousand) summary of the decrease among men and 25-34 year olds and the increase among women and those aged at least 35 reads the note. The inactivity rate remains unchanged at 33.7%.

Compared with April, in the month of May the employment, unemployment and inactivity rates show opposite trends by gender: among men, the first grows (+0.4 points) and the other two decreases (-0.3 and -0.1 points respectively); among women, the first decreases (-0.1 points) and the other two increases (+0.1 points). On an annual basis, the growth in employment (+1.2 points among men and +1.0 points among women) is associated with the decrease in unemployment (-0.4 points and -0.6 points) and inactivity (-0.9 points and -0.7 points).