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Italy’s economy has weathered the pandemic better than many expected. GDP growth has been slightly better than the Eurozone average. And Italy’s labor market has created more than a million jobs since 2020 with labor force participation improving, too.
But beneath this decent performance lies a troubling reality: the country’s labor market is under pressure from two sides. On one hand, young, high-skilled Italians are leaving for better opportunities elsewhere in Europe to seek out higher wages and living standards. On the other, an aging population is shrinking the domestic workforce and straining public finances. This double squeeze could have