FX.co ★ Italy Jobless Rate Falls Unexpectedly To 7.2%

Italy's jobless rate surprisingly fell to a fifteen-year low in December, according to preliminary reports from the country's statistical office, Istat, revealed on Wednesday. The unemployment rate, once seasonally adjusted, fell from 7.4 percent in November to 7.2 percent in December, marking an unexpected decrease from the predicted rise to 7.6 percent.

Furthermore, this represents the lowest rate since December 2008 when it was recorded at 6.9 percent. A year ago in the same month, the unemployment rate was at 7.9 percent. The data also revealed that the employment rate remained constant at 61.9 percent.

Additionally, the unemployment rate among the younger demographic, specifically those aged between 15 and 24, also saw a reduction, going down from 20.5 percent to 20.1 percent in December.