French Q2 Jobless Rate Lowest in 10-1/2 Years

The unemployment rate in France fell to 8.5 percent in the second quarter of 2019 from 8.7 percent in the previous period and below market expectations of 8.7 percent. That was the lowest jobless rate since the fourth quarter of 2008.

In metropolitan France only, the unemployment rate declined by 0.2 points over the quarter to 8.2 percent, as the number of unemployed decreased by 66,000 to 2.4 million. The fall was more pronounced among young people (-0.6 points) than among persons aged 25 to 49 (-0.2 points) and those aged 50 and over (-0.2 points). The long-term unemployment rate edged down to 3.2 percent in the second quarter from 3.3 percent in the previous period.

The employment rate of the population aged 15-64 years was virtually stable at 66 percent. Over the quarter, the employment rate among the youth diminished (-0.3 points), whereas it was stable among persons aged 25 to 49 and slightly increased among those aged 50 to 64 (+0.2 points), especially women (+0.7 points). Full-time employment rate stood at 54.7 percent in the second quarter, its highest level since 2003. Part-time employment rate declined 0.3 points to 11.3 percent.

About 5.2 percent of the employed were underemployed, meaning that they had a part-time job but wished to work more. This was virtually stable (-0.1 points) compared to the March quarter. 

The activity rate of people aged 15-64 decreased by 0.2 points to 72.0 percent. Quarter-on-quarter, it decreased by 0.6 points among youths and by 0.2 points for middle-age people. The activity rate increased however among those aged 55 to 64 (+0.2 points).

French Q2 Jobless Rate Lowest in 10-1/2 Years

INSEE, France | Chusnul Ch Manan |
8/14/2019 2:58:00 PM