DHAKA: Italy’s jobless rate rose in November to a new record high of 12.7 percent, data showed on Wednesday, and youth unemployment also hit its highest level on record above 41 percent.

The data show that some timid signs of economic recovery are having no impact on the labour market and underline the tough task facing Enrico Letta’s fragile coalition government to create jobs and growth.

National statistics institute ISTAT reported that the seasonally adjusted unemployment rate increased unexpectedly in November to 12.7 percent from 12.5 percent the month before, reaching its highest level since current records began in 1977.

The average forecast in media survey of analysts had pointed to a stable reading of 12.5 percent, reports The Straits Times.

BDST: 1641 HRS, JAN 08, 2014
Edited by Robab Rosan, Current Affairs Editor