In August, compared to the previous month, both employment and inactivity increased, alongside a decrease in unemployment. This was announced by Istat. Employment rose by 0.2% (equivalent to +45,000 units) for men, employees, and across all age groups, except for those aged 35-49, where it declined, as well as among women and the self-employed. The employment rate remained stable at 62.3%. The number of people seeking work decreased by 2.8% (equivalent to -46,000 units) for both genders and across all age groups, again with the exception of those aged 35-49. The unemployment rate fell to 6.2% (-0.2 points), while the youth unemployment rate dropped to 18.3% (-1.7 points). The number of inactive individuals increased by 0.4% (equivalent to +44,000 units) among men, women, those aged 15-34, and those over fifty. The inactivity rate rose to 33.4% (+0.1 points).
Comparing the June-August 2024 quarter with the previous quarter (March-May 2024) shows a 0.5% increase in the number of employed individuals (equivalent to +114,000 units). According to the statistical institute, the observed growth in employment during the quarterly comparison is associated with a decrease in the number of people seeking work (-5.6%, equivalent to -97,000 units) and an increase in the inactive population (+0.6%, equivalent to +68,000 units). The number of employed individuals in August 2024 exceeds that of August 2023 by 2.1% (+494,000 units). The increase involves men, women, and all age groups. The employment rate has risen by 0.8 percentage points over the year. Compared to August 2023, the number of people seeking work has decreased (-18.3%, equivalent to -355,000 units), while the number of inactive individuals aged 15 to 64 has increased (+0.9%, equivalent to +106,000).
“In August 2024, the number of employed individuals increased compared to the previous month (+45,000 units), reaching 24 million 80 thousand; the increase involves employees, both permanent—reaching 16 million 106 thousand—and temporary, totaling 2 million 811 thousand; the number of self-employed individuals dropped to 5 million 163 thousand,” comments Istat.
“The number of employed individuals exceeds that of August 2023 by 494,000 units: +516,000 permanent employees, +123,000 self-employed, and -144,000 temporary employees,” concludes the note. “On a monthly basis, the employment rate remains stable, the inactivity rate increases, reaching 33.4%, while the unemployment rate decreases to 6.2%.”
