Italy's jobless rate hits 13%, 42.3% for youths

Unemployment in Italy rose in February to 13 percent, the highest rate in 37 years and a figure Premier Matteo Renzi called shocking Tuesday. Istat, the national statistics agency, also reported unemployment among those aged 15 to 24 rose to 42.3 percent in February, a rise of 3.6 percent over last year. It added 3.3 million Italians were out of work. It is the highest level of unemployment in the country since Istat began reporting the data on a quarterly basis in 1977. Speaking in London, Renzi called the unemployment report "shocking" and said the statistics indicate Italy's recovery from recession is still "not sufficient." Italy's recession officially ended late last year, but the recovery has been weak, the Italian news agency ANSA said Tuesday. Since taking power in late February, Renzi set a deadline of 100 days to win support from his coalition government to boost growth and create jobs.