Italian GDP growth possible in Q4 - Labour Minister
Tuesday, September 10, 2013 - 03:51
Sept. 10 - : Italian Minister of Labour, Enrico Giovannini, discusses the government’s incentives for youth employment and his hopes for GDP growth in the fourth quarter.
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Welcome to write this I am intranet BR and the number sixty forum whitbeck Italian labor and social Protestant minister and -- could've been -- Mr. -- meaning it really is set expecting to come out of a recession seems when can we see. The peaked cap -- net employment. Well this is accepted the issue because we know very well that's the usual ST cities and -- Showed that employment to grows only after several quarters after the -- cup in the GDP. This is why the government has taken important measures in June. In order to have and I intensity of employment since the start thing that immediately. This is why for example we put mining tool. Four incentives to recruit young people. And we know that so 1181000. Enterprises. Aren't looked. -- interested in using these incentives right now this is exactly well we are trying to achieve in the short -- It really sic mean I'm sorry if I'm trying to sit and be more precise I mean. Always talking about to begin middle of next year or maybe just our senior reversal of days difficult trend in unemployment didn't -- Well we have to distinguish between employment and unemployment rate over the last four months. The number of employees. Is almost flat and also being in and for unemployment rate is flat. The point is that there is a lot of people who are out of the labor markets are discouraged. Or not content in the unemployment rate therefore. What we can have these increase all employees. And that the same time an increase in their unemployment rate. This old textbooks chill in the beginning of their recovery and all -- discourage people come back on the Lieberman -- Therefore we have to look at both figures. Number of employees which is good new rules beef and increases. And the unemployment rate that can increase but this is not necessarily. I bet you -- Okay and hate I mean in -- in terms of time train wreck well beings concert dainty about recovery. Is he in this moment what we expect that this points is GDP growth quarter on quarter. May be on the those or thereabouts more likely in the fourth quarter. And it. There are signs about confidence resume. Both in households and and enterprises. This is a key moment in order to stimulate. Not only that expectations about goals increasing demand. And this is why the next -- Scott -- is so important. Investors and employers blamed high labor costs an entity as a reside. Behind Dan lack of interest in hiring many people when can we see may be tax isn't and these high cost on labor. -- our team going down an entertaining. What two years ago there were complaining about three GDTs in the labor markets. Italy and a token major reform of the labor markets last year. And two months ago we mean that we made the father adjustments so the flexibility is now much higher. And the discussion over the next 34 weeks to recur the budget to go for 2014. He's accepted the right moment to reduce that that's what this is walk to the prime minister. Has that also said that in some Peters were good this week and it's a commitment obviously of course. Be sure over resources the feast our resources peace deal on the table but this is the priority number one lower budget -- for 2000. Thank you very much and expect.
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