Italian family income down 2,400 euros annually, OECD says

More than twice the eurozone average, bad labor market to blame

 

(ANSA) - Paris, March 18 - The annual income of the average Italian family fell by 2,400 euros between 2007 and 2012, more than double the eurozone average of 1,100 euros, the OECD said Tuesday. In its annual report on social indicators, the Paris-based organization said the loss in income was linked to a "deteriorating labor market, especially for youth". The OECD also blamed a "weak level of protection" for those in labor difficulty. In 2011, 13.2% of Italians said they could not afford to buy enough food, compared to 9.5% in 2007, and 7.2% had foregone medical care at some point for economic reasons.