Italy Unemployment Rises to 12-Year High as Slump Worsens
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Italy’s unemployment rate rose more than economists forecast in March to the highest since 2000 as companies failed to hire amid signs of a deepening recession in the euro region’s third-largest economy.
Joblessness increased to a seasonally-adjusted 9.8 percent from a revised 9.6 percent in February, Rome-based national statistics office Istat said in a preliminary report today. The reading, the highest since the third quarter of 2000, compared with a 9.4 percent median estimate by nine economists surveyed by Bloomberg News.