Growth, Games and unknown factors Economic Outlook - July 2024
Unemployment
In Q1 2024, the unemployment rate according to the ILO definition stabilised compared to the previous quarter, at 7.5% of the labour force. It was 0.4 points higher than in the last quarter of 2022 and the first quarter of 2023, which had been the lowest since 1982. Thus it remains well below its mid‑2015 peak (-3.0 points). The year-on-year rise in unemployment is the result of a slowdown in employment (+246,000 net jobs), while the labour force has remained dynamic (387,000 additional workers). The employment rate (68.8%) and the labour force participation rate (74.5%) of 15-64-year-olds are both high, and in Q1 2024 they were at their highest since INSEE has been measuring them (1975). Year-on-year, the increase in employment and labour force participation rates mainly concerns the over-55s (reflecting in particular the effects of the pension reform implemented in September 2023). The unemployment rate year-on-year is increasing both for under-25s (+1.5 points) and 25-49-year-olds (+0.4 points), but remains virtually stable for the 50-64-year-olds...
Conjoncture in France
Paru le :17/07/2024