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Italy's unemployment rate eases in Q3

Italy's seasonally adjusted unemployment rate for the third quarter came in at 9.8%, a decline of 0.2 percentage points from the previous quarter, the country's National Institute of Statistics reported.

The latest reading was in line with the consensus forecast of economists polled by Econoday.

Excluding those self-employed, employment rose 0.2% over the past quarter, as permanent and temporary employees grew 0.1% and 0.9%, respectively, in number. Self-employment declined 0.6%.

Labor input measured by hours worked went up 0.4% on a quarterly basis.

The growth in labor demand increased further as the number of jobs went up 0.5% over the prior quarter, driven by growth in both industry and services sectors. Labor costs rose 0.1% amid a small boost in wages and salaries, and a decline in social security contributions.

On a yearly basis, permanent employment increased 1.4% while the number of temporary workers declined 0.7%. Self-employment fell 0.7%.