Calm on the job market. The unemployment rate, as defined by the International Labor Office – a stricter definition than that of job seekers registered with France Travail – remained stable in the first quarter of the year, at 7.5% of the active population. According to a note released by the National Institute of Statistics and Economic Studies (Insee), Friday May 17, there are 6,000 more unemployed people in France (excluding Mayotte) compared to the previous quarter, to 2.3 million people now. .
There is no doubt that the government will look favorably on this stabilization as the projections appear to be more negative. Since unemployment reached its lowest level since 1982 in the first quarter of 2023 (7.1%), it has only increased (+ 0.4% over one year). It is also to stem this increase and not lose sight of its objective of full employment – around 5% unemployment – that the executive announced a new reform of Unemployment Insurance with a tightening of conditions unemployment compensation.
The project was to be presented to the press on Friday, but the situation in New Caledonia and the attack on a prison van in Eure on Tuesday May 14 changed the Prime Minister’s plans. The reform could thus be unveiled at the end of next week.
Employment rate on the rise among seniors
In detail, the situation is different depending on the age categories. The only bad news concerns young people, since the unemployment rate for 15-24 year olds increased by 0.6 points during the quarter, to 18.1%. On the other hand, it is stable for seniors (+ 0.1 point, at 5.1%), similar to that of the last quarter of 2023 and a year earlier. For 25-49 year olds, it decreased by 0.2 points over the quarter, to 6.8%, and is 0.4 points above its level in the first quarter of 2023.
While the employment of seniors is a crucial issue for the government after the pension reform, the latter will be able to be satisfied with the increase in the employment rate of 50-64 year olds. It increased by 0.5 points over the quarter (+1.2 points over one year) to reach 67.7%, its highest level since INSEE began measuring it in 1975.
For people aged 55 to 64, the employment rate is also increasing (+0.7 points over the quarter, +1.9 points over one year) and is approaching 60% (59.6%). . After the failure of the negotiation “for a new pact for life at work” between the social partners, the employment of seniors must be at the heart of a future labor law, with the executive targeting an employment rate of 65% for 55-64 year olds.