unemployment rate

unemployment rate

IMF calls for radical reforms in Italy's labor market

5h ago
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Among a lot of talks and even more indecision on reforms and spending cuts, Italy is at a standstill. All major economic indicators are showing that action has been long overdue. According to a latest report by the International Monetary Fund, Italy urgently needs radical measures to create jobs. National joblessness is set to average a 12.6 percent, the highest level since World War Two, and remain above ten percent until at least 2017. Although official statistics show that unemployment rate in Italy stands at over 12 percent, in line with European trends, experts say the situation is much more alarming.