The third quarter of 2023 confirmed a constant trend of employment growth in Italy, as highlighted by data recently published by the National Institute of Statistics (Istat). During the summer of 2023, the number of employed people reached an unprecedented level, standing at around 23 million 600 thousand individuals, representing the highest point since the beginning of the historical series dated 2004.
Employment growth
The analysis of current statistical data reveals a significant increase in the employment rate, which recorded an increase of more than one percentage point (+1,3%) compared to the same period of the previous year, reaching 61,5%. It is worth underlining the positive trend in the unemployment rate, which stood at 7,6% in the quarter considered, highlighting a decrease of almost half a point (-0,4%) on an annual basis.
The number of inactive people is decreasing
At the same time, a slight decline was observed in the percentage of inactive people (-0,6%), although the figure relating to Italians discouraged by the world of work who are not actively looking for a new job remains significant: it stands at 33,3%.
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The numbers for the quarter
As regards the most recent figures, in the period between July and September 2023, Istat documented an increase of 65 thousand employed compared to the previous three months, totaling 481 thousand new workers compared to the summer of the previous year .
It is clear, once again, that the growth is mainly driven by permanent employees, who recorded an increase of 3,1%, followed by independent workers with an increase of 1,6%.
On the contrary, a 2,3% drop in workers with fixed-term contracts was found, outlining a distinct dynamic within the labor market.
Data in context
The interpretation of such data varies depending on perspectives. Although Premier Meloni qualified the Istat data as encouraging, theanalysis provided by CGIL presents a less optimistic view.
According to their study, the employment rate has increased in the last 15 years not due to a real increase in employment, but rather due to the decrease in the workforce in Italy.
This decrease was mainly attributed to the aging of the population, which led to a loss of approximately one million and 700 thousand workers in the labor market.
This perspective underlines a structural challenge in the employment landscape, highlighting the importance of considering not only the absolute numbers of employed people, but also the demographic dynamics that impact the labor market.
To conclude, the analysis of Istat data for the third quarter of 2023 therefore highlights a positive trend regarding employment in Italy, highlighting constant growth especially in the sector of permanent employees and self-employed workers, although there are still quite a few challenges due to the demographic and structural dynamics of the Italian labor market.
