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France’s Unemployment Rate Holds Steady at 7.5% in Q4 2023

ByEditor

Feb 13, 2024

According to INSEE, the number of unemployed as defined by the International Labor Office (ILO) increased by 29,000 compared to the previous quarter to 2.3 million people in the fourth quarter after slightly revising the previous quarter’s rate upwards by 0.1%. The unemployment rate is 0.4 points higher than its level at the end of 2022 which was the lowest since 1982, although it remains significantly below its peak in mid-2015.

In terms of age groups, the unemployment rate decreased by 0.2 points for 15-24 year olds to 17.5%, increased by 0.2 points for 25-49 year olds to 7%, and was almost stable for those aged 50 or over at 5%. Additionally, the long-term unemployment rate increased very slightly over the quarter to 1.9% of the active population, although it remains slightly lower than its level at the end of 2022.

The unemployment rate for women barely decreased by 0.1 point to 7.4%, while that of men increased very slightly to 7.6% (+0.1 point). Among the unemployed, an average of 571,000 people declared in the fourth quarter of 2023 to be unemployed and looking for one for at least a year, 33,000 more than in the previous quarter.

It should be noted that the long-term unemployment rate is increasing very slightly. Among the unemployed, an average of 571,000 people declared in the fourth quarter of 2023 to be unemployed and looking for one for at least a year, 33,000 more than in the previous quarter. As a result, the long-term unemployment rate increased very slightly over the quarter (+0.1 point) to 1.9% of the active population.

By Editor

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