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Italian Unemployment Rate Falls in Boost for Renzi Reform Plans
Italy’s jobless rate unexpectedly fell in December from a record high, amid signs of an economic recovery later this year that will aid Prime Minister Matteo Renzi’s reform agenda. The unemployment rate decreased to 12.9 percent from a revised 13.3 percent in November, statistics institute Istat said in a report in Rome on Friday. The median estimate in a Bloomberg survey called for 13.5 percent. The euro-region’s third-biggest economy will start emerging from its longest recession on record in the coming months, benefiting from the lower euro and dropping oil prices in addition to the fresh monetary stimulus ... (full story)