Italian jobless figure drops to 10-year low

Italian unemployment slipped in July to its lowest level in almost 10 years.

Italian unemployment slipped in July to its lowest level in almost 10 years.

The seasonally adjusted jobless rate in the euro zone's third-largest economy was 9 per cent in July from 9.1 per cent in April, national statistics agency ISTAT said in its quarterly unemployment report.

ISTAT said it was the lowest adjusted unemployment rate since the historic series began in January 1993 and that on a like-for-like basis it was the lowest since October 1992.

The unadjusted rate dropped sharply to 8.7 per cent from 9.2 per cent in April. ISTAT calculates the employment figures during one reference week each quarter.