The Italian economic recovery is under way with growth of 1 percent expected in 2014, but the job market will take a while to recover fully, the country’s finance minister told CNBC.
“Italy is coming out of a severe recession and that’s created problems particularly for the young people that are unemployed and that will take a while before the recovery has a positive impact on the job market,” Fabrizio Saccomanni said at the World Economic Forum in Davos, Switzerland.
Towards the end of last year, youth unemployment in Italy hit its highest level on record at 41.6 percent.
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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.
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