Work, employment is growing again thanks to stable employees

Work, employment is growing again thanks to stable employees

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MILAN – Italian employment rebounds in February, after the decline in the first month of the year, thanks to stable employees. However, the unemployment rate, i.e. the rate of people looking for work, is also rising, which is accompanied by a decrease in the number of inactive people.

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This is what emerges from the new provisional Istat data relating to the month of February. “After the decline recorded in January – notes the Institute – employment is growing again due to the increase in permanent employees which reach 15 million 969 thousand. The number of employed people – equal to 23 million 773 thousand – is higher than that of February 2023 by 351 thousand units, as a synthesis of the increase of 603 thousand permanent employees and the decrease of 200 thousand fixed-term employees and 53 thousand self-employed workers”. On a monthly basis, the employment rate thus rises to 61.9% if it marks a new record.

The improvement in employment on a monthly basis (+0.2%) is equivalent to 41 thousand more people at work compared to January and is widespread among men, those aged over 24 and permanent employees. On the other hand, employment falls among women, 15-24 year olds, fixed-term employees and the self-employed. In the annual variation (that of +351 thousand units, so to speak) the increase involves men, women and all age groups, with the exception of 15-24 year olds among whom employment is decreasing.

Returning to the monthly variation, the increase in the number of people looking for work (+2.5%, equal to +46 thousand units) affects both genders and every age group. The total unemployment rate rises to 7.5% (+0.2 points), the youth unemployment rate to 22.8% (+0.7 points) The decrease in the number of inactive people (-0.5%, equal to -65 thousand unit, between 15 and 64 years) is observed for both men and women and all age groups, with the exception of 15-24 year olds among whom inactivity increases. The inactivity rate drops to 33.0% (-0.2 points).

Compared to February 2023, both the number of people looking for work (-3.2%, equal to -63 thousand units) and the number of inactive people between 15 and 64 years old (-1.9%, equal to -239 thousand) fell. .

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