Good news on the employment front. The unemployment rate fell by 0.2 percentage points in France in the second quarter of 2024, after several quarters of increases, going from 7.5% to 7.3% of the active population, INSEE reported on Friday.
This rate, as defined by the International Labour Office (ILO), harmonised at European level, remains “slightly higher than its low point since 1982” which is 7.1%, reached in the fourth quarter of 2022 and the first quarter of 2023, specifies the National Institute of Statistics.
The number of unemployed people in the ILO sense, i.e. those without work, immediately available for employment and looking for one, fell by 40,000 to 2.3 million.
Youth unemployment rate falls
Compared to the first quarter, the unemployment rate for young people (15-24 years old) fell by 0.4 percentage points but increased by 0.8 points over a year for this age group, to 17.7%, while it is almost stable for 25-49 year olds and seniors.
The halo around unemployment increased over the quarter (+39,000 people) but decreased over a year (-25,000), with 1.9 million people who want a job but are not considered unemployed because they are not looking for a job or are not available.
The employment rate for 15-64 year-olds, lower in France than the European average and which the government wants to increase through pension reform, has reached its highest level at 69% since INSEE began measuring it in 1975.