- Nineteen prisoners use cutlery to break out of cells at Winchester prison
- France wants progress in Ukraine before Russia returns to G7
- Italy president begins talks to seek way out of government crisis
- Italian PM expected to resign as political chaos deepens
- Russia says US cruise missile test ‘regrettable’
- Kremlin - No date set for Normandy talks on Ukraine despite Macron meeting
- Egypt court hands out 6 death sentences on terror charges
- Putin says Russian nuclear explosion poses no threat
- Russian panel eyes alleged foreign interference in protests
- Gran Canaria wildfire triggers evacuation of thousands of people
- PM Johnson calls on Germany and France to compromise on Brexit
- Sudan's ex-president Bashir arrives at corruption trial
Wednesday, 02 September 2020_In Italy, the level of employment has plummeted by almost 500,000 units since February due to the COVID-19 pandemic. The country is facing its deepest recession since World War Two.
The national bureau of statistics ISTAT announced the Covid-19 pandemic has led Italy to the loss of 500,000 jobs since the start of the pandemic in February. ISTAT data has revealed that the number of job seekers and inactive people has grown by about 50,000 and 400,000 respectively over the past five months.
Despite widespread business closures during the lockdown, unemployment figures decreased in the country as workers stopped looking for jobs, resulting in an increase in the number of 'inactive' people, those who aren't working or looking for a job.
Earlier this week Italy posted a record economic contraction after household spending and investment crashed during the lockdown.
Italy is set to suffer its worst recession since World War II this year, with analysts estimating Gross Domestic Product to plummet up to 14 percent. Overall the country will lose 16 billion euros in consumer spending in 2020, translating in an average loss of around 2,000 euros a head.
The statistical agency ISTAT has also warned that the youth unemployment rate has risen above 30 percent for the first time in over a year. Many fear the country will have to face a hot autumn of strikes and protests.
Your Comment