ANALYSIS – In full employment, the unemployment rate should be around 5%. But despite encouraging results, France is reaching the floor below which it is difficult to descend.
Whatever indicator is used, the drop in unemployment since 2017, and even more so since the peak of the Covid-19 crisis in June 2020, is indisputable. In five years, the number of unemployed has indeed fallen: by more than 600,000 within the meaning of the ILO and by 400,000 according to category A at Pôle emploi. This decline brought the unemployment rate down to 7.4% of the working population at the end of 2021, i.e. 2.1 points less than at the start of the five-year term and 1.7 points less than at the height of the pandemic. A result that the President of the Republic naturally highlighted during his campaign, arguing“an unemployment rate at its lowest for fifteen years”.
This fall in unemployment has three origins. Firstly, the effects of all the reforms implemented on the labor market for fifteen years (Bertrand law in 2008, Sapin law in 2013, El Khomri law in 2016 and Pénicaud orders in 2017) to limit fear of hiring employers and increasing job creation (1.6 million since the end of 2013)…
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