--January S.A. Result: 9.9% vs 10.0% In October
--January Unadjusted Result: 10.1% vs 10.0% In Oct, 11.4% in Jan 2000

By Giorgio Schiavoni

ROME (MktNews) - Italy's January seasonally adjusted unemployment rate was in line with market expectations, falling marginally to 9.9% from 10.0% in October, to post its lowest reading since January 1993, national statistics institute ISTAT reported Tuesday.
The ten analysts contacted by Market News International last week had expressed a median forecast of 9.9% within a tight range of 9.8% at the low end and 10.0% at the top end.
ISTAT, whose employment surveys are carried out every three months (referring to January, April, July and October), noted that January's marginal adjusted unemployment fall was due to a general increase of employment in all economic sectors, and particularly in the center of the country and in the south.
The unadjusted unemployment level in January stood higher than the seasonally adjusted figure at 10.1%, up from 10.0% in October due to seasonal factors, but well below the 11.4% level posted in January last year, which is the only month with which a meaningful comparison can be made, ISTAT said.
The total number of unemployed in January stood at an adjusted 2.354 million, down an adjusted 1.1% from October, ISTAT reported.
The statistics institute calculated that around 80,000 new jobs had been created in January from October on a seasonally adjusted basis, an adjusted rise of 0.4%. The total number of employed in January stood at a seasonally adjusted 21.454 million.
The civilian labor force -- the sum of those in work and those looking for work -- rose 0.2% q/q on a seasonally adjusted basis to an adjusted 23.808 million, increasing by 1.7% y/y to 23.652 million in unadjusted terms.
In 2000 the average unemployment rate stood at 10.6%, down from 11.4% in 1999, and 11.8% in 1998.
In January, as usual, the unemployment rate in the southern regions far outstripped that in the center-north. Southern unemployment stood at an adjusted 20.0% (20.3% in October) compared to 7.8% in the center (7.6% in October) and 4.1% in the north (4.2% in October).
On a regional basis, the seasonally adjusted employment rate edged up 0.1% from October in the north, rose 0.5% in the center, and gained 0.7% in the south.
The number of employed in industry rose a seasonally-adjusted 0.5% in January from October, while employment in services rose 0.2%. Jobs in agriculture also rose, posting a seasonally adjusted 0.5% increase on the quarter. The highest increase was posted by construction up 1.2%.
ISTAT also reported that the unadjusted occupation rate -- the ratio between those in work and the working age population -- stood at 54% in January from 52.3% in January last year. Italy's occupation rate has long been well below the EU average of slightly over 60%