30.06.202313:30:00UTC+00Italy Jobless Rate Falls Unexpectedly To 7.6%, Lowest In 37 Months

Italy's unemployment rate decreased in May to reach its lowest level in just over three years, preliminary figures from the statistical office Istat showed on Friday.

The seasonally adjusted jobless rate dropped to 7.6 percent in May from 7.8 percent in April. Meanwhile, economists had expected the rate to rise to 7.9 percent.

Further, this was the lowest unemployment rate since April 2020, when it was 7.5 percent.

At the same time, the employment rate edged up to 61.2 percent in May from 61.1 percent.

The unemployment rate among young people aged between 15 and 24, climbed to 21.7 percent in May from 20.7 percent a month ago.