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Italy
- Recruitment landscape
- Economic indicators
- Labor market
- Working life
Your global agency guide to...
Italy
Italy, with a GDP of $2.25 trillion, ranks 8th globally and 4th regionally. It has a stable working population but faces challenges with a growing elderly demographic. Key industries include tourism, machinery, and food processing. With an unemployment rate of 7.6%, Italy has a well-functioning labor market supported by a moderate number of recruitment agencies.
Italy'S
AGENCY LANDSCAPE
1.1K
Agencies operating in Italy
A high number of agencies indicates a mature recruitment industry, marked by strong talent demand, established labor laws and economic stability.
15-20%
Typical fee range
Countries with higher fees imply finding talent is harder to find whilst lower fees indicate a high-volume, commoditized market.
Italy'S
FEATURED AGENCIES
Manpower Group
Randstad
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Italy'S
GROSS DOMESTIC PRODUCT (GDP) RATING
8
WORLD RANKED
Italy ranks 8th in the world by current economic output
$2.3T
NOMINAL GDP (US$)
GDP reflects the overall size and economic strength of the country’s economy.
4
EMEA RANKED
Italy is the 4th biggest GDP in EMEA out of 109 countries in the region
GDP GROWTH (%)
The above chart compares how Italy's GDP has grown, compared to the rest of the world and the EMEA region in the last 7 years.
Positive growth indicates an expanding economy, while negative growth or recession signifies economic contraction. Strong growth can encourage hiring, but slower growth might lead to freezes or layoffs, influencing talent sourcing as businesses adapt to changing market conditions and demands.
Italy'S
CURRENCY AND CODE
€
Country currency
ITA
Country ISO code
Italy'S
INFLATION RATE
1.7%
CURRENT RATE
▼4.2% REDUCTION
Inflation represents the rate at which prices rise and purchasing power diminishes. High inflation may prompt employees to seek higher wages, potentially impacting company profitability. This situation could lead to budget constraints or hiring freezes, which might influence talent availability and sourcing strategies.
Italy'S
COST OF LIVING
COST OF LIVING INDEX EXPLAINED
The cost of living has a direct impact on salary expectations and the competitiveness of compensation packages. It can influence the appeal of certain locations-while high-cost areas may attract highly skilled professionals looking for higher salaries, lower-cost areas can appeal to companies looking to minimize salary expenses or candidates seeking a better work-life balance.
Italy'S
LABOUR STATISTICS
59M
POPULATION
With a population of 58,983,122, Italy is a medium sized country by global standards. Italy's youth population is just below the world average, indicating it may face challenges in labor market sustainability over time. The working population in Italy is close to the world average, suggesting a stable labor market that can adequately meet the economy's demands. Italy's elderly population is just above the world average, suggesting a growing dependency ratio, which may strain the labor market.
Italy'S
RELIGION
Religion
In religiously diverse countries, a broad sourcing and engagement approach whilst appealing to inclusive practices resonates with this candidate market. In contrast, in a homogeneous religious environment, understanding dominant cultural norms is often more important when engaging with talent.
Italy'S
UNEMPLOYMENT RATE
7.6%
CURRENT PERCENTAGE
▼0.45% REDUCTION
Italy has an unhealthy unemployment rate, suggesting there may be some economic or structural challenges . Between 2022 and 2023, there was a small decrease in unemployment, suggesting continued economic stability with a slight improvement in job availability
Italy'S
TOP PERFORMING COMPANIES AND INDUSTRIES
Top performing companies
Intesa Senpaolo
Generali
UniCredit
Top industries
Machinery
Chemicals
Motor vehicles
Italy'S
GENDER DEMOGRAPHICS
RATIO OF MALES TO FEMALES (BY AGE)
LABOUR PARTICIPATION BY GENDER (%)
59
/
41
Male | Female
In Italy there is a medium gap in participation rates between males and females, indicating moderate inequality with some progress towards gender parity.
Italy'S
WORKING LIFE
$33K
Average gross annual wage (US$)
This figure represents yearly income before taxes. Higher wage countries are above $50,000 USD. Attracting talent in lower-wage markets can be cost-effective; however, offering above-average compensation may be required for in-demand skills.
$2.8K
Average gross monthly wage (US$)
This figure represents monthly income before taxes. Higher-wage countries typically exceed $4,000 USD per month. Attracting talent in lower-wage markets can be cost-effective; however, offering above-average monthly compensation may be necessary for in-demand skills.
Italy'S
WORKING LIFE
12DAYS
Minimum annual holidays
Minimum annual holidays reflect mandated leave. Hiring in countries with high allowances (over 25 days) will require emphasizing work-life balance when recruiting. In countries with fewer holidays (under 15 days), offering additional leave can enhance recruitment and set the organization apart.
40HRS
Average working full time week
Standard work hours are 40 per week, with mandatory overtime pay for excess hours. Maximum yearly overtime is 250 hours, with increased rates ranging from 115% to 150% depending on timing and day. Dirigente staff don't receive overtime pay.
Italy'S
TOP BENEFITS
5MONTHS
Maternity leave
5 months paid maternity leave at 100%, 10 days full-pay paternity leave, 11 months parental leave with 30% salary by Social Security up to child age 12.
180DAYS
Sick leave
Employees get paid sick leave up to 180 days. For 0-3 days, employers pay 100% salary. Days 4-20, payment is 75% salary (50% by Social Security, 25% by employer). From 21-180 days, it's 100% salary (66% by Social Security, 33.3% by employer).
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