2010.08.3107:30:00UTC+00Italy July Jobless Rate Falls

Italy's jobless rate dropped in July from the previous month.

The seasonally adjusted jobless rate was 8.4% in July, down from 8.5% in the previous month, the statistical office Istat said on Tuesday. A year earlier, the jobless rate was 7.9%.

The number of unemployed persons totaled 2.11 million in July, while the number of employed totaled 22.89 million. The employment rate for 15 to 64 aged persons was 56.9%.

The Italian economy expanded for the second straight quarter, suggesting that the recovery from the worst recession is continuing, despite the currency bloc's debt crisis. The Gross domestic product, or GDP, rose 0.4% sequentially in the second quarter, the same as in the first three months of the year. Annual inflation eased in July. The consumer price index rose 1.6% in August, but slower than 1.8% in June.

Copyright(c) 2010 News.com, Inc. All Rights Reserved