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The unemployment rate in Italy dropped to 5.7% in November 2024, below market expectations of 6% and down from 5.8% in the previous month. This marked the lowest level since records began in January 1983, extending the period of tightness in the Italian labor market. The number of unemployed individuals fell by 24,000 to 1,457,000, which was the lowest since April 2007. Meanwhile, the number of net employment decreased by 13,000 to 24,065,000. The labor force participation rate held steady at 66.3%, its lowest in 21 months.