Poverty in Italy remains a problem. The ongoing economic recession, affecting many countries around the globe, has hit Italy especially hard. For the first time in 16 years, poverty rates have risen, along with the general jobless and youth unemployment rate. Overall, the number of full-time contract workers declined to 10.2 million in 2013, a 1.3 percent reduction from 2012.
The news was even worse for younger generations as youth unemployment reached an all-time high of 41.2 percent.
Although the first month of the New Year has yet to end, Italy remains hopeful to see results and move on from past adversities. Listed below are 10 facts about some of those adversities, as well the consequential effects the economic crisis has had on Italy over time.
Poverty in Italy Facts
- Between 2011 and 2012, Italy saw its relative poverty rate rise from 4.9 to 6.2 percent in the wealthier northern regions while it also rose from 23.3 to 26.2 percent in poorer southern areas.
- According to a Europe 2020 report, the risk-of-poverty rate climbed to almost 30 percent in 2012, more than double the amount in 2005.
- Between those same years, the poverty rate in industrial northern areas nearly tripled in poverty as it climbed from 2.5 to 6.4 percent.
- The amount of people living in absolute poverty affected as many as 1.7 million families in 2012 and as many as 4.8 million people in total.
- Absolute poverty is defined as a family or group of individuals whom are unable to obtain a monthly income which prevents them from obtaining necessary products and services needed to survive.
- In 2012, 3.2 million families lived in relative poverty, equivalent to almost 9.5 million people in total.
- Relative poverty is defined as a family or group of individuals who live together on a monthly income of less than $1,400 a day.
- Approximately four in ten people under-25 are currently out of the workforce.
- The number of younger people on full-time contracts currently resides at 9.4 percent.
- Italy looks to repair its economy 1 percent over the next two years and increase its job growth in the process.
– Jeffrey Scott Haley