Quarterly information of the Regional Labor Market Observatory.
THE OVERVIEW
In Italy, in the fourth quarter of 2023, “labor input, as measured by hours worked, increased by 0.8 percent compared to the previous quarter and by 2.4 percent compared to the fourth quarter of 2022. During the same period, GDP grew in both cyclical (+0.2 percent) and trend (+0.6 percent) terms.”
Employees are, however, still growing, +2.9 percent, over the year 2022 driven by permanent employment. Apprenticeships and fixed-term contracts are declining while contract workers and contractors are increasing.
Positive signs are observed in almost all manufacturing sectors. In manufacturing, the largest increases are in goldsmithing, electromechanics and pharmaceuticals. The tanning industry continues to show signs of difficulty with a slight negative change from 2022, the same for the marble industry which has a zero change; growth continues in construction. In the tertiary sector, tourism services stand out for the consistent increase while banking services show a steady and significant decrease.
Unemployed estimated by ISTAT are lower than the 2022 value by 14 thousand, and the unemployment rate drops from 6.1 percent to 5.3 percent. Employment rate among 15-64 year olds is growing for both women and men.
Insight LABOUR DEMAND, EMPLOYMENT LEVELS AND SOCIAL SHOCK ABSORBERS IN THE FASHION SECTORS IN TUSCANY. THE ECONOMIC SITUATION IN 2023
Edited by Donatella Marinari
After the gradual post-Covid recovery, the Tuscan fashion industry experienced a difficult economic situation in 2023, which saw it contract production and exports and, consequently, also labour demand, differentiating itself from the dynamics of the region’s other manufacturing sectors. Representing an important share of Tuscan manufacturing, it contributed strongly to the region’s aggregate result, which was negative compared to the Italian average. It is very likely that the dynamics of consumption of fashion products globally were affected by the general economic slowdown. Geopolitical tensions and the persistent inflationary pressure may have contributed to the contraction of household consumption, especially those related to non essential goods. The data presented here focus on the effects on the demand for new jobs, the stock of employees and the demand for lay-offs.
