FX.co ★ Italy Jobless Rate Falls To 6.2%, Lowest Since September 2007

Italy's unemployment rate declined for the second consecutive month in August, reaching its lowest level in nearly seventeen years, according to data released by the statistical office ISTAT on Wednesday.

The jobless rate fell to 6.2 percent in August, down from 6.4 percent in July, surpassing economists' expectations of a 6.5 percent rate.

In August of the previous year, the unemployment rate stood at 7.6 percent.

Furthermore, the current jobless rate marks the lowest since September 2007, when it was similarly recorded at 6.2 percent.

Meanwhile, the employment rate held steady at 62.3 percent.

The youth unemployment rate also saw a significant decrease, falling to 18.3 percent in August from 20.1 percent in July.