In Italy the unemployment rate has more than  BIS central bankers’ speeches  1  doubled from 6 to over 12 percent since 2007. Youth unemployment has shot up from 20 to over 40 percent. 9. Furthermore, there is also a broader tendency in advanced countries of employment rates to decrease.
Between 2007 and 2013 employment has fallen in the US from 72 to 67 percent of the working age population; in Italy from 59 to 56 percent (from 25 to 16 percent among the youth). 10. The critical point, from a policy perspective, is to what extent the rise in unemployment is structural rather than cyclical.