Italy Youth Unemployment Hits Record 40.5 Percent

Italy’s overall jobless rate and youth unemployment edged up in April to the highest levels on record, data showed on Friday.

Unemployment rose to 12.0 percent from an upwardly revised 11.9 percent in March, statistics office ISTAT said. The youth jobless rate increased to 40.5 percent from 40.3 percent the month before.

Both figures were the highest since records began in 1977.

Prime Minister Enrico Letta, who came to power in April after two months of political deadlock, has made tackling unemployment a priority and pushed for it to be a central theme at a European Union Council meeting in June.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza