Italian unemployment rate rises; trade balance deficit of EUR2.1bn
Italy's Statistics Institute, Istat, estimated (23-Sep-2010) 23 million were employed in 2Q2010, a 0.8% year-on-year reduction, with the employment rate decreasing from 57.9% to 57.2%. Unemployed increased to 2.1 million people, with an unemployment rate of 8.3% (up from 7.3% in 2Q2009). The inactivity rate was 37.5%, a 0.1 ppt year-on-year increase. Istat separately stated (23-Sep-2010) exports to non-EU countries increased by 32.6% and imports by 44.0% in Aug-2010 on a year-on-year basis. The trade balance showed a deficit of EUR2,142 million compared with a EUR880 million deficit in the same month of 2009.