Youth unemployment in Italy hits 30%

According to Italy’s national statistics bureau, Istat, people aged between 15 and 24 are the worst hit.

The figure for the jobless 15- to 24-year-olds dropped from 7.11 to 6.05 million, falling by 233,000 people in 2010, the Istat bureau said Saturday.

However, according to a separate study by the Bank of Italy many of the jobless Italians benefited from care within the typically close Italian family.

Italian Prime Minister Mario Monti on Wednesday unveiled what he described as a “historic” labor reform bill, claiming that the bill would encourage foreign investors, boost productivity and give jobs to the country’s youth.

The unveiling of the bill comes as Italian labor rules provide permanent contracts and job security for older workers, whilst the youth are mostly hired to work in insecure and temporary jobs without benefits and security.

Italy’s largest union grouping, the CGIL, has blamed temporary contracts and ignoring the problems of younger workers for the high rate of unemployment among Italian youth.

The union has also accused Rome of making Italian workers, both young and old, bear the brunt of reforms in the country whilst wealthy Italians remain unaffected.

VG/JR/MP/HGH

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