FX.co ★ Italy Jobless Rate Drops to 5% in May

Italy’s unemployment rate edged down to 5.0% in May 2026 from 5.1% in April, coming in just below market expectations of 5.1%. This marked the lowest level since the current data series began in 2004. The number of unemployed people fell by 22 thousand on the month, to 1.28 million, with declines seen among both men and women, fixed-term employees, and all age groups except those aged 50 and over.

The employment rate slipped marginally to 63.0% from April’s record high of 63.1%, as the number of employed people decreased by 22 thousand to 24.34 million. Despite the recent gains, Italy’s employment rate remained among the lowest in the euro area. Meanwhile, the inactivity rate rose to 33.6% from a six-month low of 33.45%.

The youth unemployment rate, which tracks jobseekers aged 15 to 24, fell to a new record low of 15.1% in May from 16.4% in April.