21,000 more workers in May –

21,000 more workers in May –

Employment growth continues in May 2023 but slowing down: the increase of 0.1% That is 21,000 more employees than in April. what is reported The latest preliminary data from Istat shows that 383,000 more people are employed than in the same month of 2022 (+1.7%) driven by the increase in permanent and self-employed workers, which more than offset the decrease in temporary workers. The increase in employment compared to May 2022 affects men, women and all age groups except 35-49 year olds due to negative demographic dynamics.

The monthly comparison shows an increase in employment among men, self-employed, the 25-34 year olds and the over 50 year olds, while there is a decrease for women, temporary workers, the youngest (15-24 years old) and the 35 year olds is. 49 years old.
The employment rate increases to 61.2% (+0.1 points).

I comparethe quarter March-May 2023 Compared to the previous one (December 2022 – February 2023), the number of employees increased by 0.5%, which corresponds to 120,000 more units.

In total, In May 2023 compared to the previous month, the increase in the number of employed persons is associated with a decrease in the number of unemployed by 7.6% (-0.1 points). The lowest since April 2020, when it was 7.5% in an unusual month due to anti-Covid lockdown restrictions. To find a lower prior result, you have to go back to May 2009, 14 years ago, when the unemployment rate was 7.5%. The youth unemployment rate, on the other hand, rose to 21.7% (+0.9 points). Compared to April, the number of job seekers (-1.7%, equivalent to -34,000 units) in men aged 25 to 34 and in men aged 50 and over. Compared to May 2022, the decrease is 4.8%, which is -98,000 units, while in the quarterly comparison March-May 2023, the decrease in job seekers is 1.6%, which is -33,000 units. On the other hand, the number of inactive people remained quite stable in May compared to the previous month between 15 and 64 years (-2.7%, equal to -351 thousand) Summarizing the decrease in men and 25-34 year olds and the increase in women and those aged 35 and over, the note said. The inactivity rate is unchanged at 33.7%.

Compared to April, a month Employment, unemployment and inactivity rates may show opposing trends by gender: among men, the first increases (+0.4 points) and the other two decrease (-0.3 and -0.1 points respectively); For women, the first decreases (-0.1 points) and the other two increase (+0.1 points). On an annual basis, employment growth (+1.2 points for men and +1.0 point for women) is consistent with a decrease in unemployment (-0.4 points and -0.6 points) and inactivity (-0.9 points and -0.7 points) connected.

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