Informations Rapides · 13 November 2024 · n° 279

In Q3 2024, the unemployment rate was virtually stable at 7.4% ILO Unemployment and Labour Market-related indicators (Labour Force Survey results) - third quarter 2024

In Q3 2024, the number of unemployed people in France (excluding Mayotte) as defined by the International Labour Office (ILO) increased by 35,000 over the quarter and reached 2.3 million people. The ILO unemployment rate thus increased by 0.1 points over the quarter, to 7.4% of the labour force, back to its level from a year ago. It remained slightly above its lowest level since 1982 (7.1% in Q4 2022 and in Q1 2023) and clearly below its peak level reached in Q2 2015 (-3.1 points).

Over the quarter, the unemployment rate rose by 1.8 points for people aged 15 to 24, to 19.7%. It stood 2.4 points above its level from a year ago and at its highest since Q1 2021. For people aged 25 to 49, it was virtually stable over the quarter (-0.1 points) and decreased by 0.2 points over the year, to 6.6%. Finally, for people aged 50 or more, the unemployment rate decreased by 0.3 points over the quarter and by 0.5 points over the year, to 4.7%, its lowest level since the end of 2008.

Over the quarter, the women’s unemployment rate decreased by 0.2 points, to 7.2%, while the men’s unemployment rate rose by 0.3 points, to 7.6%.

Among the inactive people as defined by the ILO, 1.8 million wanted a job without being considered unemployed, because they either did not seek a job or were not immediately available: they made up the halo around unemployment. This number decreased over the quarter (-89,000) and over the year (-187,000). Thus, the share of halo in the population of people aged 15 to 64 declined by 0.2 points over the quarter and by 0.5 points over the year, to 4.3%. Over the quarter, this share decreased by 0.7 points for people aged 15 to 24, to 6.7%, by 0.2 points for people aged 50 to 64, to 2.8%, and by 0.1 points for people aged 25 to 49, to 4.3%.

Among the unemployed, 533,000 people on average declared being jobless and having been job seeking for at least one year in Q3 2024. This number decreased by 5,000 over the quarter. The long-term unemployment rate was therefore stable over the quarter and virtually stable (-0.1 points) over the year, at 1.7% of the labour force. It remained 0.5 points below its level at the end of 2019.

On average, in Q3 2024, the employment rate of people aged 15 to 64 increased very slightly (+0.1 points), bringing the year-on-year rise to +0.7 points. It stood at 69.1%, its highest level since INSEE started measuring it (1975).

For people aged 15 to 24, the employment rate decreased by 0.4 points over the quarter and by 0.7 points over the year, to 34.6%. For people aged 25 to 49, it was stable over the quarter but stood 0.6 points above its level from a year ago, at 82.9%. Finally, for people aged 50 to 64, the employment rate rose sharply again: +0.7 points over the quarter, bringing the year-on-year rise to +2.0 points. It stood at 68.8%, its highest level since INSEE started measuring it (1975). In particular, the employment rate for people aged 55 to 64 rose by 0.7 points over the quarter and by 2.2 points over the year, to 60.8%.

In Q3 2024, the full-time employment rate increased by 0.1 points over the quarter and by 0.5 points over the year, to 57.5%. The part-time employment rate was stable over the quarter but remained 0.2 points above its level from a year ago, at 11.6%. As a result, the share of part-time employment in total employment was virtually stable (-0.1 points) over the quarter, at 17.6%. This share remained slightly above its Q3 2023 level (+0.2 points) but 1.2 points below its level at the end of 2019.

In Q3 2024, 4.3% of employed people were underemployed, this share was stable over the quarter. It stood 0.1 points below its level from a year ago, 1.6 points below its level at the end of 2019 and at its lowest since 1992.

On average, in Q3 2024, 16.3% of participants in the labour market (active people or in the halo around unemployment) were constrained in their labour supply, either by the absence of a job (unemployed or halo around unemployment), or in a situation of underemployment. This share decreased by 0.2 points over the quarter, by 0.6 points over the year, and stood 2.6 points below its level at the end of 2019.

In Q3 2024, the average number of hours worked per job rebounded slightly over the quarter (+0.3% after -0.6%) to 31.2 hours per week (adjusted for seasonal variations and calendar effects). It stood barely below its level from a year ago (31.4 hours per week in Q3 2023). Since mid-2022, the number of hours worked has stabilised at a level similar to that before the health crisis (31.3 hours in Q4 2019).

The permanent employment rate for people aged 15 to 64 rose by 0.2 points over the quarter, bringing the year-on-year rise to +0.6 points, to 51.1%. It stood 1.3 points above its Q4 2019 level and at its highest level since INSEE started measuring it on a quarterly basis (2003). The employment rate on fixed-term contract or temporary work was stable over the quarter (at 6.6%) and remained below its Q4 2019 level (-0.3 points). The work-study employment rate declined by 0.1 points over the quarter, to 2.3%, while the self-employment rate increased by 0.1 points, to 8.8%. Both remained clearly above their pre-crisis levels (+0.7 points and +0.8 points respectively).

The activity rate of people aged 15 to 64 rose by 0.3 points over the quarter to 74.8%. It stood 0.9 points above its level from a year ago, 2.0 points above its level at the end of 2019 and at its highest since INSEE started measuring it (1975).

Over the quarter, with the rise in unemployment among people aged 15 to 24 and despite the slight decrease in their employment, the activity rate for young people rebounded by 0.5 points, to 43.1%. It stood 0.4 points above its level from a year ago. For people aged 25 to 49, it was stable over the quarter, at 88.8%, and 0.6 points above its level from a year ago. Finally, for people aged 50 to 64, it rose by 0.5 points over the quarter, bringing the year-on-year rise to +1.8 points; it stood at 72.3%, its highest since INSEE started measuring it (1975).

In Q3 2024, the share of young people aged 15 to 29 neither in employment nor in education or training (NEET) decreased by 0.4 points to 12.0%. This share stood 0.4 points below its level from a year ago and 0.2 points above its level at the end of 2019. This decrease, despite the rise in unemployment among young people, was mainly due to an increase in the proportion of young people in education or training.

Compared to the first estimate published on 9 August 2024, the ILO unemployment rate in Q2 2024 remained unchanged at 7.3%. The activity rate and the employment rate for people aged 15 to 64 also remained unchanged.