Italy unemployment rate hits new record

Italy's unemployment rate reached 9.3 percent in February, its highest level since the country began calculated monthly employment records in 2004, the official data agency Istat said on Monday.

Italy's economy, the third largest in the eurozone, entered recession in the second half of last year and unemployment had reached 9.1 percent in January.

The unemployment rate among young people aged 15 to 24 also reached a record in February of 31.9 percent compared to 31.0 percent in January.

According to seasonally adjusted data, the number of people looking for a job rose to 2.354 million in February -- an increase of 1.9 percentage points over one month and of 16.6 percent over a 12-month period.

Workers at Istat staged a protest against their fixed-term contracts, disrupting the press conference to unveil the unemployment data as budget austerity measures implemented by Prime Minister Mario Monti begin to hit home.

Around 40 protesters handed out copies of a statement entitled “Precarious: employed or pre-unemployed?” The tract condemned Istat for hiring 419 researchers and technicians on fixed-term contracts instead of permanent ones.

Monti has unveiled plans for an overhaul of the labour market including an easing of measures against the firing of workers, a move which has infuriated trade unions which are now planning a major protest later this month.

AFP