Labour, unemployment rate rises to 7% in June. Year-on-year 337,000 more employed (+1.4%)
Compared to the previous month, employment increased (+0.1%, or +25,000) for men, permanent employees, the self-employed, 25-34 year-olds and the over-50s
2' min read
2' min read
In June 2024, compared to the previous month, employment increased (+0.1%, i.e. +25,000) for men, permanent employees, the self-employed, 25-34 year-olds and those over 50; it decreased instead among women, temporary employees, 15-24 year-olds and 35-49 year-olds. This was announced by Istat. The employment rate rose to 62.2% (+0.1 points). The number of people looking for work increased (+1.3%, equal to +23 thousand units) for both gender components and among 35-49 year-olds, while it decreased among 15-24 year-olds and those over 50. The unemployment rate rose to 7.0% (+0.1 points), the youth unemployment rate to 20.5% (+0.1 points).
In one year 337 thousand more employed (+1.4%)
.The number of employed persons in June 2024 exceeded that of June 2023 by 1.4 % (+337 thousand). The increase involves men, women and all age groups. The employment rate in one year rises by 0.7 percentage points. Compared to June 2023, the number of jobseekers fell (-6.4%, or -122 thousand) as did the number of inactive persons aged 15 to 64 (-0.8%, or -103 thousand).
New setback for manufacturing in the Eurozone
The Eurozone manufacturing sector suffered yet another setback at the start of the third quarter, with a sharper decline in new orders causing a more accelerated contraction in output and employment levels. New declines in purchasing activity and inventories were evident, while optimism for future activity weakened to its lowest level in four months. In particular, after the positive inflationary scenario of the second quarter, the July survey data signalled a greater acceleration of cost pressures, with purchase prices rising at the fastest rate in one and a half years. However, eurozone manufacturing companies were more reluctant to pass on the increased cost burden to their customers, and their selling prices remained generally unchanged.
The Hcob Pmi of the Eurozone Manufacturing Sector, which measures the overall health of eurozone manufacturing companies on a monthly basis and is compiled by S&P Global, reported the same value in July as in June at 45.8, marking another sharp deterioration in the health of the eurozone manufacturing economy.
