The difficult economic situation that France is currently experiencing has not yet had a significant effect on unemployment figures. In the third quarter, the number of unemployed, as defined by the International Labor Office (ILO) – a stricter definition than that of job seekers registered with Pôle emploi – certainly increased, but in a very measured way: 35,000 people in more across the entire territory (including overseas, except Mayotte) compared to the previous quarter.
According to data released on Wednesday November 13 by the National Institute of Statistics and Economic Studies (Insee), the unemployment rate is therefore almost stable (+ 0.1%) and now stands at 7.4% of the active population, or 2.3 million unemployed. It thus returns to its level of a year ago.
In detail, the situations differ depending on the age categories. The bad news concerns young people. The unemployment rate for 15-24 year olds increased by 1.8 points compared to the second quarter, to 19.7%. Over one year, the increase is even clearer (+2.4 points), thus reaching its highest level since the start of 2021. For those aged 25-49, the unemployment rate is almost stable (–0.1 point) over the quarter and a drop of 0.2 points over one year, to 6.6%. Finally, for those aged 50 or over, the unemployment rate fell by 0.3 points over the quarter (0.5 points over one year), to 4.7%, its lowest level since the end of 2008.
Towards a turnaround in 2025
Concerning seniors, the employment rate of 50-64 year olds is increasing significantly again: +0.7 points over the quarter – up 2 points over one year. It reached 68.8%, its highest level since INSEE measured it in 1975. In particular, the employment rate of 55-64 year olds increased by 0.7 points over the quarter and by 2.2 points over one year, at 60.8%. Good news as France is lagging behind on this point compared to its European neighbors. To improve the situation, the social partners must conclude a negotiation on the employment of seniors at the end of the week.
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This stagnation in the third quarter is not really a surprise since the positive effects of the Olympic and Paralympic Games on employment observed at the start of the year have subsided, while the difficulties encountered by businesses at the end of the year have not. have not yet had any consequences on the job market. If more than 1 million jobs have been created in four and a half years, everyone is now preparing for a turnaround, especially in 2025.
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