(Finance) – Il April 2024 MIC stood at 11.5, down by three tenths of a point compared to March, reaching the lowest level since the end of 2008. The data – reports Confcommercio – is the synthesis of a reduction in widespread unemployment (down to 7.6%) and a slight increase in the prices of highly purchased goods and services (2.6% from 2.5% in the previous month). After a period in which the sudden return of inflationary dynamics had amplified the positive impulses coming from the labor market, in more recent periods the return of the area of social hardship seems to be mainly entrusted to the possibility of increasing employment levels and reducing widespread unemployment.
In April, based on the results of the continuous survey on the workforce, there was a increase of 84 thousand employed on the previous month and a decrease of 55 thousand people looking for work. These trends – notes Confcommercio – were associated with a substantial stability of inactive people (+5 thousand over the month). These dynamics have led to a reduction in the official unemployment rate, which fell to 6.9% (the lowest figure since December 2008). In the same month, the authorized CIG hours were just over 37.3 million, to which must be added approximately 780 thousand hours for allowances paid by solidarity funds. In terms of CIG and FIS hours actually used, these data led to a stabilization, in March, of the seasonally adjusted standard work units (AWU). The combination of these dynamics led to an improvement in the extended unemployment rate which fell to 7.6% (tab. 1).
In April 2024 i prices of goods and services with high purchase frequency showed a year-on-year change of 2.6%, up a tenth of a point compared to March. Given that it does not raise particular concerns considering the fact that, according to initial estimates, in May the change in prices of goods and services with high purchasing frequency should be confirmed at 2.6%.
In view of a stabilization of inflation the dynamics of the labor market – explains Confcommercio – remain fundamental for the further reduction of the area of social hardship. At present, the expansion trend of the labor market, which began in the first months of 2021, does not seem to show signs of trend reversal. The increased demand from companies operating in more labour-intensive services (in particular tourism) could, in fact, continue to favor the absorption of the workforce at least until the summer months.
This situation – concludes Confcommercio – could change with the beginning of autumn when the critical issues present in some sectors, highlighted by the persistence of the hours authorized for the various forms of salary integration at levels decidedly higher than those of 2019, could give long to a worsening.