2024-08-06 08:16:56
After the first quarter which took off with its strength, the labor market stopped in the spring. Between the end of March and the end of June, paid employment in the private sector remained almost constant, with 7,900 fewer positions, according to the supply estimate from INSEE published this Tuesday morning, while it increased to by 61,000 in the first three months of the year (+0.3%).
At just over 21.15 million, the number of workers in the private sector also exceeded their level of a year ago by 0.4% (i.e. + 78,000 positions) and of that before the health crisis (end of 2019) by 6.1% (+ 1.2 million) ) services), the national statistics office said.
For the record, in the first quarter, the French economy has been enriched by a total of 75,000 jobs, in the private and public sectors, paid or not. Progress in the private sector mainly comes from fixed contracts and two sectors of activity, hotels and restaurants and commercial activities, many observers see the role of preparation for the Olympics, with the youth has the main benefits.
Are the Olympics over?
Will companies then slow down on hiring despite GDP growth which turned out to be stronger than expected according to the first estimate from INSEE? The publication, on August 30, of the final figures for the second quarter, will make it possible to see things more clearly, even as long as they are not provisional figures, in a direction or the other
Meanwhile, the flash estimate published this Tuesday shows that employment continues to decline in construction, with 6,300 fewer positions in the second quarter which adds to the 9,000 lost in the first. The regular locomotive of the labor market, the commercial university sector without temporary work is stable, having only 6,300 jobs after +50,700. It seems that temporary employment is in clear decline (-20,000). Agriculture suffered the same fate, although in a more moderate way (-2,100).
In this table, the non-market university sector is doing well with an increase of 0.3% in its labor force (ie +8,300 jobs). Company too. Its workforce increased by 6,400 positions, more or less as in the first quarter. French factories have had 96,000 more since before the health crisis at the end of 2019, perhaps a sign of recovery, slow but sure, after decades of decline.
In its latest economic report – published on July 9 but produced before the release of the Assembly – INSEE expects a moderate increase in total employment of 0.1% over each of the last three quarters of the year. That’s +185,000 more positions by the end of 2024 than a year ago.
More info to follow…
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