Saturday, June 1, 2013

Italy aims to axe youth jobless rate below 30 percent: PM

Italy's Prime Minister Enrico Letta said on Saturday his government aims to reduce youth unemployment to below 30 percent in the next few years with a mixture of fiscal breaks and different contracts for young employees.

Italy's overall jobless rate and youth unemployment edged up in April to the highest levels on record, data showed on Friday, with the youth jobless rate at 40.5 percent. Reducing unemployment in the midst of Italy's longest recession since World War Two is likely to be no easy task.

"Our goal is to bring the youth unemployment below 30 percent," Letta said speaking in the northern city of Trento.