France: unemployment rate almost stable in the 2nd quarter at 7.4%, according to INSEE

Workers on a construction site in Paris on June 3, 2022 (AFP/Archives/JOEL SAGET)

The unemployment rate is almost stable in the second quarter of 2022 at 7.4% of the active population in France (excluding Mayotte) against 7.3% in the first quarter of the year, according to figures published Friday by INSEE.

In the second quarter, the number of unemployed as defined by the International Labor Office (ILO) reached 2.3 million people, or 29,000 more over the quarter.

The unemployment rate is back to its level in the fourth quarter of 2021. “It is 0.5 points lower than its level in the second quarter of 2021 and 0.8 points lower than before the health crisis (end of 2019) “, indicates INSEE.

During the second quarter of 2022, the youth unemployment rate increased (+1.3 points to 17.8%), but remained well below its pre-crisis level (by 3.7 points).

In the other age categories, it remained almost stable among 25-49 year olds (+0.1 point, to 6.7%), and fell by 0.3 point among those over 50 (to 5.2 %).

With regard to the “unemployment halo” indicator, i.e. people wishing to return to the labor market but who are not considered unemployed by the ILO (actually looking for a job and being available to take one), it increased slightly during the quarter to 1.9 million people (+0.1 point to 4.5%).

The long-term unemployment rate (at least one year) fell very slightly, to 2.1% of the active population (-0.1 point) and remained 0.3 point below its level of one year ago.

As for the share of underemployment, people on partial unemployment or part-time and wishing to work more, it fell by 0.1 point over the quarter (i.e. 4.6 million people). This is the lowest level of underemployment since 1992.

© 2022 AFP

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