Between inflation, budget law and PNRR: effects and prospects for the Tuscan economy
Report edited by L. Ghezzi and N. Sciclone
Between inflation, budget law and PNRR: effects and prospects for the Tuscan economy
Editors of the Report: L. Ghezzi and N. Sciclone Working group: S. Bertini, E. Conti, N. Faraoni, T. Ferraresi, C. Ferretti, G. F. Gori, P. Lattarulo, M. L. Maitino, D. Marinari, R. Paniccià, V. Patacchini, L. Piccini, L. Ravagli, S. Turchetti Editorial layout: E. Zangheri
During 2022, the growth trajectory of the Tuscan economy reflected the progressive slowdown of the international economy: a more accentuated dynamic until the summer was then followed by a subsequent phase of deceleration. But the overall trend remained positive both in industrial production and in exports, producing beneficial effects on the labor market. Industrial production marks +3.4% in the comparison between the first 9 months (January-October) of 2022 compared to the same period of the previous year. The Tuscan data exceeds, in variation, the national data (+1.2%) and certifies the return to pre-pandemic activity levels. Exports, in the same period, grew at constant prices and with a trend variation of +7.3%, after a 2021 characterized by very marked growth, and accelerated further in the third quarter of the year. Finally, in the labor market we are witnessing the overcoming of the employment levels recorded not only in the previous year, but also in the period preceding the pandemic. Between January and October, in fact, the number of employees exceeds the figure for 2021 by +4.6% (+78 thousand units). Compared to 2019, considering the same period of analysis, the growth of employees (+78 thousand also in this case) is 6.5%. What has grown above all is the demand for stable work due to a significant increase in the transformation of fixed-term contracts and apprenticeships into permanent job positions. In 2022, there were 45,000 transformations from fixed-term work to permanent work, in the period extending from January to October: this is the highest value since 2019. Recourse to social safety nets is limited and no sector records, compared to last year, an increase in the hours granted under ordinary and/or extraordinary layoffs or by Solidarity Funds. Even dismissals for economic reasons do not show growing dynamics. Indeed they are lower than the values observed in 2019. (…)
