IMF chief calls on Italy to reform labour market

Unemployment among youth especially troubling, says Lagarde

(ANSA) - Washington, April 10 - Italy must reform its labour market with an eye to creating jobs for unemployed youth, Christine Lagarde, director of the International Monetary Fund (IMF) said Thursday.

Italy, as well as other European countries including Spain, have a significant problem with youth unemployment, noted Lagarde in remarks ahead of the IMF's semi-annual meetings in Washington. The jobless rate in Italy for young people between ages 15 and 24 hit 42.3% in February, the latest available figures.

Increasing the participation rate of women in the work force is another key labour-market challenge that is important in countries ranging from Germany to Japan and Korea, said Lagarde. Italian Premier Matteo Renzi has introduced labour reforms in his so-called Jobs Act that is now before the Senate.