Italy's Unemployment Rate economic indicator measures the percentage of unemployed people among the total labor force. An unemployed person is defined as someone aged 15-74 without work, who has actively sought employment during the last four weeks and is available to start work within the next two weeks. The month-over-month indicator measures a change in the unemployment rate in the given month compared to the previous month. The indicator is seasonally adjusted.
The recent statistics show that the unemployment rate can be higher in some of the Southern Italian regions, while it is lower in regions situated in North. Nationwide youth unemployment rates are even higher. As a consequence of this, a lot of young people live with their parents.
The downward tendencies have a positive effect on the currency of a country (EUR as far as Italy is concerned), because the employed people spend more money and therefore the consumption represents a significant part of the GDP, therefore lower values are taken as positive for the EUR (bullish). Rising readings result in loss of income for individuals and increased pressure on government due to social benefits, and thus high unemployment rates are considered negative (bearish) for the EUR.
The chart of the entire available history of the "Italy Unemployment Rate" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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