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Italy has lost nearly a decade’s worth of jobs

AP Photo/Domenico Stinellis
​It will take a while to unlock the Italian economy from its current predicament.
By Matt Phillips
ItalyPublished Last updated This article is more than 2 years old.

Don’t forget. The euro zone’s third-largest economy is still a mess. And we’re not just talking about the never-ending political volatility. Unemployment in September hit the highest level on record at 12.5%.

Youth unemployment hit 40.4%. The total number of unemployed climbed to 3.194 million, an increase of 29,000. And the number of employed people fell to 22.4 million. Employment levels are now back to where they were in early 2004, which means that nearly a decade’s-worth of job creation has been undone.

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