Pensions, unemployment insurance… Older employees, big losers of the Macron reforms

Pensions unemployment insurance… Older employees big losers of the Macron

We cannot say that Emmanuel Macron pampers his electorate. In April, during the first round of the presidential election, the 50-64 year olds carried the outgoing president at the top of their votes. Eight months later, it’s grimace soup. Because two of the main economic reforms of Macron’s second five-year term will have a lasting impact on the situation of senior employees. First the unemployment insurance reform. While the job market has never been so dynamic for nearly fifteen years and job shortages are increasing, the government has decided to reduce the compensation period by 25%. And this from February 1st. Problem, the probability of finding a job quickly decreases drastically as the 60-year mark approaches. Especially for the less qualified.

This is where the pension reform complicates everything. Even if the government has given itself until January 10 to continue the consultations – in reality, the fear of seeing the French stranded on the station platforms during the holidays undoubtedly explains this respite – the cause is heard: the French will have to work longer, until 64 or even 65. Admittedly, past pension reforms and in particular that of Nicolas Sarkozy in 2011 – which had postponed the retirement age to 62 – had made it possible to increase the employment rate of seniors. Despite everything, it remains low: much lower than in most of our European neighbours, particularly Germany. At the end of 2021, only 35.5% of 60-64 year olds were employed in France, compared to more than half across the Rhine.

With these two reforms, we therefore risk seeing battalions of gray hair coming to the end of their rights and falling into the system of social minima and precariousness… for longer. Unless companies really change their outlook on older employees. That they no longer consider them as a burden but as an asset and above all that they stop making them the adjustment variable when the weather gets bad. Admittedly, the government is working with the social partners on the publication by companies of a “Senior Index” like the one that has existed since 2019 on gender equality. Under the spur of transparency and the fear of being singled out, business leaders could be encouraged to change their strategy… That’s good, but it takes time and it’s far from enough.

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