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16 February 2018

Employment: Unemployment figures at their lowest since 2009

The National Institute for Statistics and Economic Studies (INSEE) has published the quarterly figures for employment and unemployment in France: the unemployment rate fell by 0.7 points in the last quarter 2017, to stand at 8.9% of the labour force. This is the biggest drop from one quarter to the next since 1975.
 

According to INSEE’s figures, France now has 205,000 fewer unemployed workers than in the preceding quarter. The overall drop in 2017 was 1.1 points, making the current unemployment level the lowest since 2009.

This is the biggest recorded drop from one quarter to the next since 1975, the first year for which statistics are available.

In parallel, the employment rate reached its highest level since the 1980s, standing at almost 66% of 15-64 y/o, up by 0.6 points – an increase that has benefited all age brackets.

We cannot but be pleased with these improvements. Nonetheless, nobody can sit back when there are still 3.7 million unemployed. As the Prime Minister reminded Members of Parliament, “the work is not over. We want to win the battle against mass unemployment once and for all.”

Which is why the Government is tackling the problem “from all sides”, by carrying out major structural reforms:

  • Transformation of the Labour Code
  • Transformation of taxation
  • Transformation of training, from primary school through to vocational training