Real household income falls, gap with EU grows

John

By John

The gross real disposable income from the families In the 2023 decreases, mainly due to the high growth of pricesand stands at more than six points below that of the 2008. It emerges from the tables Eurostat on the “Social Scoreboard” according to which the scores for theItaly on the front of theemployment and of the unemployment and on the poverty of those who work and go below the 10% for the first time since 2010. As regards income in EUthe average rises from 110,12 to 110.82 (2008 equal to 100) while Italy falls from 94.15 to 93.74. Eurostat reports that Italy’s scorers are improving on Work and on theinstruction even if the data remain below the EU average. In particular, the employment rate among the 20 to 64 years old in Italy it rises from 64.8% of the 2022 to 66.3% In the 2023 with a growth of 1.5 points while on average in the EU the increase is 0.7 pointsfrom the 74.6% to the 75.3%. Despite this increase, Italy remains last in the ranking.

On the unemployment Italy records a decrease in 0.4 percentage points (from the8.1% to the 7.7%), a trend that is further strengthened in 2024while the EU on average records a reduction of 0.1 points (from the 6.2% to the 6.1%). Our country is also experiencing a collapse in the Neet (young people who are not in an education and training path and do not work) with the transition from 19% to the 16.1%the lowest figure since the beginning of the historical series in 2009. In Europe on average there was a decrease of 0.5 pointsfrom the11.7% to the11.2%. It also significantly decreases the long-term unemployment (at least one year without finding work) with the transition from 4.6% to the 4.2% of the workforce, the lowest figure after the 2009 although still above the EU average (2.1%).

Italy records a significant decline in risk of poverty among working people, dropped to 9.9% from the11.5% marked in the 2022. In EU in 2023 was at the8.3%. In Italy it had reached the 12.2% In the 2017 and in the 2018 while a given under the 10% it was only in 2010 (9.5%).

Social data in Italy are also improving on the front ofinstruction: the percentage of those who leave school early drops from11.5% to the 10.5% (from the 9.7% to the 9.5% in the EU on average). This is the lowest rate since the beginning of the historical series in 2000 when the percentage exceeded the 25%. The rate of the graduates with the transition from 27.4% to the 29.2% In the 2023 of people among the 30 to 34 years old even if Italy remains distant from the EU average (from 42.8% of the 2022 to the 43.9%).

As for the income Italy compared to 2008 he did better only than Greece (In the 2022 gross disposable income was at 72.1% compared to that of the 2008) while it remains away from the Germany with the 112.59% In the 2023. The France exceeds the 2008 (108.75% In the 2022) while the Spain is still behind (95.85%).