+60.5% in October (but young people lose their jobs) – Corriere.it

In October 2022, employed people in Italy grew by 82,000 compared to September and by 496,000 compared to October 2021. But it is above all the number of employed people over 50 who are increasing (135,000 more in a month), while young people continue to lose jobs (34,000 less in one month among the under 35s). Compared to the previous month, in October 2022, the employment rate rose to 60.5 per cent, a record value since 1977. While the unemployment and inactivity rates fell to 7.8 per cent and 34.3 per cent, according to the Istat. Employment (+0.4%, equal to +82 thousand) increases for men and women, for permanent employees and for the over-fifties; instead it decreases for the remaining age groups, for temporary employees and the self-employed. The number of job seekers fell (-0.4%, equal to -8 thousand units compared to September) among males and in all age groups with the exception of 25-34 year olds. The total unemployment rate drops to 7.8% (-0.1 points), the youth rate to 23.9% (-0.2 points).

The inactive are decreasing

The decrease in the number of inactive people between the ages of 15 and 64 (-0.5%, equal to -62 thousand units) involves women, 25-34 year olds and those over 50. Compared to October 2021, the number of job seekers decreased (-14.0%, equal to -321,000 units) and the number of inactive people between the ages of 15 and 64 (-2.6%, equal to -336,000) . Comparing the August-October 2022 quarter with the previous one (May-July), there is substantial stability in the number of employed persons. The stability of employment recorded in the quarterly comparison is associated with the decrease in job seekers (-1.7%, equal to -34 thousand units) and the growth of inactive (+0.1%, equal to +13 thousand units) .

In one month, 34,000 fewer under-35 workers

Between September and October 2022, quite differentiated trends were recorded by age group: among the youngest (15-24 years) employment and unemployment decreased in the face of an increase in inactivity, while among the 25-34 year olds the decrease in Employment is associated with a decrease in inactivity and an increase in unemployment. Among the 35-49 year-olds there is stable employment, a drop in unemployment and a growth in inactivity; finally, among the 50-64 year olds, both inactivity and unemployment are decreasing to the advantage of employment. On an annual basis, all age groups show an increase in the employment rate and a decrease in the unemployment and inactivity rates. On a monthly basis, however, there are 34,000 fewer employed persons among the Italians under 35 than in September and 135,000 more employed persons among the over 50s. Between 35 and 49 years of age, on the other hand, there are 19,000 fewer employed persons.