FX.co ★ Italy Jobless Rate Falls To 7.2%, Lowest In Over 15 Years

According to a report released by the Italian Statistical Office (ISTAT) on Friday, the country's unemployment rate dropped to 7.2 percent in March, marking the lowest it has been in over fifteen years. This was a significant decrease from the 7.4 percent recorded in February, contrary to economists' projections of a rise to 7.5 percent.

In comparison with the same period last year, the figure fell from 7.9 percent. Notably, the last time the unemployment rate was at this level was back in January 2009.

Meanwhile, the rate of employment in March saw a slight upturn as it rose to 62.1 percent from 61.9 percent in February. Additionally, youth unemployment experienced a substantial decrease as well, dropping to 20.1 percent in March from 22.4 percent the previous month, as indicated by the data.