Italy is looking sick today.
According to stats that have just come out, the unemployment rate has risen to a 37-year high of 12.7% in November.
Youth unemployment jumped from 41.4% in October to 41.6% in November.
This isn’t the only bad Italian number lately.
Recall that earlier this week, Italy clocked in with its second-straight sub-50 reading in its service sector PMI (even as most Eurozone countries showed improvement, especially Spain, with which it’s frequently compared).
In terms of an economy with problematic structural issues, Italy is looking more and more France-like these days.