Relaunch Decree, Istat: “In 2020 there will be 385,000 fewer workers due to lockdown. For the turnover of services, an unprecedented drop”

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In 2020 the occupied in Italy they will drop by approx 400 thousand units as a result of Covid and lockdown. The estimate comes fromIstat, which in hearing on Revival decree quantifies for the first time the expected impact of containment measures on the labor market. Impact that for now has not transpired from the data, given the freezing of layoffs. The director for statistical production, Roberto Monducci, at the hearing in the Senate Work Committee, explained that “the limitation of production activities until the end of April would determine on an annual basis a 4.1% reduction in consumption, of the added value of 1.9%, with an impact on employment by year of approximately 385 thousand employees “.

In the first quarter of 2020, according to Istat, “demand conditions and epidemic containment measures lead to a sharp decrease in the turnover of services. The downturn has reached, on a base trend, values ​​similar to those recorded during the crisis of 2008-2009, while the economic downturn is unprecedented (the time series available began in 2001) “. The drops have affected the main sectors to a different extent and are heavier in the activities most affected by the closure measures for the containment of the health emergency, “such as those related to the supply chain of the tourism. ”

Meanwhile a May the business confidence index, at 51.1, records “the minimum value since the beginning of the historical series”. Estimates show a drop in confidence, compared to March (in April the surveys were interrupted) in the market services sector – from 75.7 to 38.8 -, in the retail trade – from 95.6 to 67.8 – and construction – from 139.0 to 108.4. In manufacturing, the confidence index recorded a “relatively more contained” decline, going from 87.2 to 71.2, while remaining “at historically low levels.

The consumer confidence index, however, fell to 94.3, the lowest level since December 2013. The investigation was stopped in April. The concerns of families seem mostly concentrated on the present situation and on the general context. They keep the moods related to what will happen in the coming months and what you keep the individual sphere better. “The comparison of the May data with those relating to March indicates – Istat writes – downturns for all components of the climate of consumer confidence; the decrease is marked for the economic and current climate while the personal and future climate record contained decreases. The economic climate goes from 94.4 to 71.9, the personal climate drops from 102.4 to 100.9, the current climate falls from 104.8 to 95.0 and the future climate decreases only slightly, going from 93, 3 to 93.1 “.

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