Italian Unemployment rate reached its 12-year peak

Based on Istat statistics, the Italian unemployment surged to 10.2%, the highest in a 12-year period, exceeding all forecasts. The previous joblessness figures was 9.8% in Q1 2012 and 9.1% in Q4 2011. To ameliorate situation in the labour market, the Senate located in Rome issued an overhaul encompassing regulations regarding the recruitment and termination of employees. However, prior to its implementation the reform should be approved by the Chamber of Deputies.