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Italy Unemployment Rate Remains Near Record High in June

Italy’s unemployment rate stayed near a record high in June as companies remain reluctant to hire amid the country’s recession.

Joblessness dropped to 12.1 percent from 12.2 percent in May, which was the highest since the data series began in the first quarter of 1977, the Rome-based national statistics office Istat said in a preliminary report today. The June rate was lower than the 12.3 percent median of nine estimates in a Bloomberg News survey. Unemployment remained above 10 percent for a 17th month.