IMF warns about Italy's youth unemployment rate

The International Monetary Fund (IMF) has warned about the high level of youth unemployment in Italy again, calling for urgent reform of the European country’s labor market, Press TV reports.

With youth joblessness at over 42 percent, the highest level ever recorded since 1977, Italy is currently facing mounting pressure from the European Union (EU) and some highly influential financial institutions.
IMF Managing Director Christine Lagarde has recently said Italy must urgently reform its labor market with an eye to creating jobs for unemployed young people aged between 15 and 24.
She also expressed worries that almost a quarter of young Europeans under the age of 25 cannot find a job and that in Italy well over one-third of under-25s are jobless.

“I would go abroad to find a work if I had the chance,” a young Italian told Press TV.

Soaring youth unemployment in Italy leaves an increasing number of young people with no option but to migrate to countries with better economies and more jobs.
The real question is if Italian Prime Minister Matteo Renzi will be able to fulfill the hopes of Italy's youth by giving them some good reasons to stay.
Italy started to experience recession after its economy contracted by 0.2 percent in the third quarter of 2011 and by 0.7 percent in the year’s fourth quarter.
Over the past decade, Italy has been the slowest-growing economy in the eurozone.
The worsening debt crisis in Europe, which started in 2008, has forced EU governments to adopt harsh austerity measures and tough economic reforms, which have triggered incidents of social unrest and massive protests in many European countries.