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GDP uptick won't create jobs says Squinzi

'Desperate need' to boost employment says employers' chief

GDP uptick won't create jobs says Squinzi

Rome, July 9 - The Italian economy's forecast move out of recession at the end of the year will not create "desperately needed" jobs, the head of the powerful industrial employers' group Confindustria told parliament Tuesday. Giorgio Squinzi said the economy would rebound at year's end by 0.3%-04% going into 2014 but that would not be enough to bring down the record unemployment that is compressing demand. "We have a desperate need of new jobs", Squinzi told the Lower House. Italy's jobless rate is 12% overall and almost 40% among 15-to-24-year-olds.

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