Italian Unemployment at Near-Five Year Low

Italy’s jobless rate fell in April to an almost 5-year low, pointing to improved growth prospects for the rest of this year.

The unemployment rate was 11.1 percent, down from a revised 11.5 percent in March, statistics agency Istat said Wednesday in Rome. The median estimate in a Bloomberg survey of 13 analysts called for a reading of 11.6 percent. It was the lowest since September 2012.

In the first quarter, Italy’s gross domestic product expanded by 0.2 percent, the same pace as the final three months of last year. Still, employers lobby Confindustria said in a report last week that GDP may rise at a faster pace in the current quarter.

Bloomberg

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.