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Italy Jobless Rate Stable at 12.4%

Italy Jobless Rate Stable at 12.4%Italy Jobless Rate Stable at 12.4%

Italy’s monthly unemployment rate remained unchanged unexpectedly in the last quarter, official data showed on Tuesday, Investigating.com reported. In a report, Istat said that Italian monthly unemployment rate remained unchanged at 12.4%, from 12.4% in the preceding quarter. Analysts had expected the rate to fall to 12.3% in the last quarter. The Italian economy finally returned to growth in the first quarter of this year following three bruising years. Although the Greek debt crisis is, of course, casting a shadow over the eurozone as a whole, the Italian government remains upbeat about the country’s prospects this year. In April Prime Minister Matteo Renzi’s government upgraded its growth forecast for 2015 to 0.7% from 0.6%.

Financialtribune.com