Showing posts with label unemployment in Italy. Show all posts
Showing posts with label unemployment in Italy. Show all posts

Wednesday, August 31, 2011

Overall decline in Credit Default Swap

According to Markit, the Credit Default Swap (CDS) debt-related peripheral countries in the Euro area showed an overall decline. Markets appear to be satisfied and policies in Spain and Italy, as investors thus less prone to risk aversion.

But caution is still required while Greece is still alone, strong concerns weighing on a possible non-application of the second aid package awarded to Athens. Thus, the CDS (insurance against nonpayment) of the Greek debt to five years have now reached 2,200 basis points, up 92 bps.

The Credit Default Swap with the same maturity on the Italian debt has meanwhile declined by 19 bps to 360 bps, a few hours before the auction by Italy of eight billion Euros of debt. CDS Spanish were down for their 14-bps to 362 bps. The 10-year rate in Spain was changing and in turn to 5.04%, against a record 6.45% last August 2. Regarding Ireland, the decline is 32 basis points to 805 basis points.

Sunday, August 28, 2011

Sad record of youth unemployment in Italy

Is it only consolation? While France recorded an increase of job seekers, Italy is no exception ... since according to a study released Wednesday by Confartigianato, the Italian federation of craftsmen, the Italian nation has one of the youth unemployment rate the highest in Europe and the highest in the age group under 35. According to the report of Confartigianato, Italy has more than one million unemployed under the age of 35, corresponding to a rate of 15.9%.

The problem is particularly acute in the 15-24 age group with a rate of 27.8% recorded in June by the European Institute Eurostat, the European average for it’s around 20.3%. Remember, however, that Spain, the unemployment rate for under 25 reached 45.7% while it is 33.3% in Slovakia. Like what everything is relative ...

Looking specifically the portion of the age of 35, the number of young people with jobs fell by 926,000 units between 2008 and 2011. The Italian institute of statistics Istat for its part told that Italy had in the first quarter of 2011, 1.152 million of unemployed under 35 years. Unemployment is especially in the Mezzogiorno located south of the peninsula with a rate of 21.1%, representing 538,000 unemployed youth. Sicily has the highest with a rate of 28%, reports Confartigianato ... regardless of undeclared ...

For businesses, non-standard contracts can get rid of the tax burden. The absence of effective measures for reducing employment opportunities for young people to find a decent job is the main reason. Note, however, all age groups combined, the unemployment rate in Italy is one of the lowest in Europe, reaching 8% in June against 9.9% in the euro area over the same period. Young Italians seem to somewhat stalled, only 47% of them hoping to get a full-time contract. Ironically, while the young end of the Arab Spring sees Italy as a veritable paradise, 98,000 young Italians would be willing to emigrate to find work.

For the record, according to information provided by the Italian Interior Ministry in a circular to the Chamber of Deputies dated August 3, 2011, 51,881 immigrants set foot on Italian soil during the first seven months of the 2011. Of these, 24,854 are from Tunisia, 23,890 are from Libya and the rest of sub-Saharan Africa. Such an "effective" equals the number of immigrants recorded during 1999, a year marked by war in Kosovo.