Italian Unemployment Rises in Setback for Renzi’s Plans
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Italy’s jobless rate unexpectedly rose in March as employers delayed hiring until there are clear indications the nation is emerging from the record-long recession that’s thwarted Prime Minister Matteo Renzi.
Unemployment increased to 13 percent from 12.7 percent in February, statistics agency Istat said in a preliminary report in Rome on Thursday. The median estimate in a Bloomberg survey of 10 analysts called for a decline to 12.6 percent. The March unemployment rate for the 19-nation euro area will be released at 11 a.m. in Luxembourg.