Geneva

Italy needs to create 1.7 million jobs, says ILO

Economy has lost 600,000 jobs since start of economic crisis

Italy needs to create 1.7 million jobs, says ILO

Geneva, June 3 - Italy needs to create 1.7 million jobs to be able to return to the employment levels it had before the global economic crisis started in 2008, the International Labour Organization said Monday. "Since the second quarter of 2008, the Italian economy has shed roughly 600,000 jobs," read the Snapshot of Italy in the ILO's World of Work Report 2013. "Given that the working-age population has grown over this period by approximately 1.1 million, Italy needs to create roughly 1.7 million jobs to restore employment rates to pre-crisis levels". The United Nations agency pointed out that unemployment in Italy has increased sharply since the beginning of the crisis. It was 6.1% in 2007 but stood at 11.2% in the last quarter of 2012 after climbing "almost uninterrupted, and stood at 11.2% in the last quarter of 2012. Unemployment reached 12% in April, national statistics agency Istat said last week, with around four in 10 people aged 15 to 24 on the dole. "The challenge of finding employment in Italy has been particularly acute for young persons aged 15-24," the report said.

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