Labour, employment rises again in October (+47,000)
Unemployment rate falls to 5.8 per cent and youth unemployment also falls (-1.1 per cent)
2' min read
2' min read
In October 2024, after the fall in September, the number of employed people rose again (+47 thousand) to 24 million 92 thousand. This was announced by ISTAT, stating that the increase involves permanent employees and the self-employed, while the number of temporary employees fell. Employment also grew compared to October 2023 (+363 thousand employed). On a monthly basis, the employment rate rose to 62.5%, the inactivity rate to 33.6%.
The unemployment rate in October dropped to 5.8%, 0.2 percentage points lower. Istat points out that the youth unemployment rate also fell, to 17.7 per cent (-1.1 points).
Fewer term employees
The increase in the number of employed persons in October, Istat specified, involved permanent employees (up to 16 million 210 thousand) and the self-employed (5.158 million). Temporary employees, on the other hand, fell to 2.724 million. And the growth in employment compared to October 2023 is also a synthesis of the increase among permanent employees (+449 thousand) and among the self-employed (+127 thousand) and the decrease among fixed-term employees (-212 thousand). The growth in employment involves in particular men, permanent employees, the self-employed and those aged 50 and over; among 15-24 year-olds and women employment is stable, while it decreases among 25-49 year-olds and fixed-term employees.
Inactive persons on the rise among women and the under-35s
The number of jobseekers fell (-3.8% or -58 thousand) for men and women and for all age groups. The number of inactive persons increases (+0.2%, equal to +28 thousand units) among women and the under-35s, while it decreases among men and the other age groups. The inactivity rate rises to 33.6% (+0.1 points). In October 2024, the number of employed persons exceeds that of October 2023 by 1.5%, an increase that involves men, women, 25-34 year olds and those over 50. The number of employed persons remains substantially stable among 35-49 year olds, while it decreases among 15-24 year olds. The employment rate in one year rises by 0.6 percentage points. Compared to October 2023, the number of people looking for work decreased (-26.0%, equal to -519 thousand) and the number of inactive people aged 15-64 grew (+3.1%, equal to +378 thousand). Finally, comparing the quarter August-October 2024 with the previous quarter (May-July), there was an increase in the number of employed persons of 0.5% (or +121 thousand).
