In March 2024, the employment rate increased by 0.2 percentage points to 62.1%, while unemployment decreased and the inactivity rate remained stable, according to provisional data released by Istat. The total number of employed individuals surpassed that of March 2023 by 1.8% (+425 thousand units), with both employees and self-employed workers contributing to this growth.
Among all demographics except for 35-49 year olds, there was a decrease in the number of people looking for work (-2.8%, equal to -53 thousand units), resulting in an overall unemployment rate of 7.2%. However, there was a slight increase in the number of inactive individuals among men and those under 50, while it decreased among individuals aged 50 and above.
Comparing the first quarter of 2024 with the fourth quarter of 2023, there was a 0.2% increase in employment but a decrease in the number of people looking for work by 2.1% and an increase in inactivity by 0.3%. These trends indicate a dynamic labor market, with efforts to support job creation and economic growth contributing to progress in increasing employment levels and decreasing unemployment rates, especially among young people.
Overall, these statistics highlight the importance of continued support for job creation initiatives and policies that promote economic growth to maintain a healthy labor market in Italy.