Italy Economy

Work abroad sounds like an adventure to many people. However, job search in Italy requires more than just the obvious Italy cover letter and Italy CV writing and translation, it requires thorough preparation. You will experience problems that probably did not even come to your mind when you decided to work overseas.

Do not take too lightly the influence a work in Italy can have on the effect of your adventure! For instance, you will experience the different immigration rules and practices, strange job application procedures, unfamiliar job candidate selection criteria and out of the ordinary management culture.

Most visits to Italy are trouble-free but you should be aware of the risk of indiscriminate terrorist attacks, which could be against civilian targets, including places frequented by expatriates and foreign travelers like restaurants, hotels, clubs and shopping areas.
In recent years, the Italian authorities have carried out a number of investigations and operations against terrorist networks.
You should exercise a high level of security awareness and m
onitor local news broadcasts and consular messages. Ensure that your travel documents and visas are current, valid and secured in a safe place. Carry a photocopy of your travel documents in lieu of the originals. Maintain a low profile, vary times and routes of travel, and exercise caution while driving. Making local contacts quickly and seeking support from other expatriates will greatly increase your comfort and safety.

Italy economy - overview: Italy has a diversified industrial economy, which is divided into a developed industrial north, dominated by private companies, and a less-developed, welfare-dependent, agricultural south, with high unemployment. The Italy economy is driven in large part by the manufacture of high-quality consumer goods produced by small and medium-sized enterprises. Italy also has a sizable underground economy, which by some estimates accounts for as much as 17% of GDP. These activities are most common within the agriculture, construction and service sectors.

Italy is the third-largest economy in the euro-zone, but exceptionally high public debt burdens and structural impediments to growth have rendered it vulnerable to scrutiny by financial markets. Italy has moved slowly on implementing needed structural reforms, such as lightening the high tax burden and overhauling Italy's rigid labor market and over-generous pension system. In results the public debt has increased steadily since 2007, reaching 120% of GDP in 2011, and borrowing costs on sovereign government debt have risen to record levels.

During the second half of 2011 the government passed a series of three austerity packages to balance its budget by 2013 and decrease its public debt burden. These measures included a hike in the value-added tax, pension reforms, and cuts to public administration. The government also faces pressure from investors and European partners to address Italy's long-standing structural impediments to growth, such as an inflexible labor market and widespread tax evasion.

The international financial crisis worsened conditions in Italy's labor market, with unemployment rising from 6.2% in 2007 to 8.4% in 2011, but in the longer-term Italy's low fertility rate and quota-driven immigration policies will increasingly strain its economy. The euro-zone crisis along with Italian austerity measures have reduced exports and domestic demand, slowing Italy's recovery. Italy's GDP is still 5% below its 2007 pre-crisis level.

Labor force - by occupation: agriculture: 4.2%, industry: 30.7%, services: 65.1% (2005)

Unemployment rate: 8.4% (2011 est.), 6.8% (2008 est.), 9.1% (2002 est.)

Natural resources: mercury, potash, marble, sulfur, natural gas and crude oil reserves, fish, coal, arable land

Industries: tourism, machinery, iron and steel, chemicals, food processing, textiles, motor vehicles, clothing, footwear, ceramics

euro banknotesCurrency: Euro (EUR; symbol €) = 100 cents. Notes are in denominations of €500, 200, 100, 50, 20, 10 and 5. Coins are in denominations of €2 and 1, and 50, 20, 10, 5, 2 and 1 cents.

Credit/Debit Cards and ATMs: All major credit and debit cards are widely accepted.

Traveler is Cheques: Traveler’s cheques are widely accepted. To avoid additional exchange rate charges, travelers are advised to take traveler’s cheques in Euros, Pounds Sterling or US Dollars.

Exchange rates: Euros (EUR) per US dollar - 0.7107 (2011 est.), 0.755 (2010 est.), 0.7198 (2009 est.), 0.6827 (2008 est.), 0.7345 (2007), 0.7964 (2006), 0.8041 (2005), 0.8054 (2004), 0.886 (2003), 1.06 (2002), 1.12 (2001), 1.09 (2000), 0.94 (1999)

Inflation rate (consumer prices): 2.8% (2011 est.), 3.6% (2008 est.)

Other Italy Economy Info

To be successful in your Italy job search and getting job you want, you need prepare Italy cover letter and Italy CV which you must email instantly to the prospective employers selected during job search in Italy.

When you receive an invitation to the Italy job interview, you may apply for the Italy visa and Italy work permit. Then prepare yourself for job interview and take a look at Italy dress code because how you dress is the one of the most important attribute in being hired.

Check the job interview do & don't and other job search skills pages. Find out why people are not hired for available jobs.

In addition, on the international info, job search, visa, work permit, cover letter, CV & resume, job interview and dress code pages you will find many useful tips for overseas job seekers.

Good luck with the Italy economy info!