Two points down, 2.1 precisely. It is the drop in the unemployment rate, as measured by INSEE within the meaning of the International Labor Office (ILO), during Emmanuel Macron’s first five-year term. Two points less, or even a little more, is the way to go to achieve, as the Head of State has set, the objective of full employment by 2027.
While INSEE announced on Friday that the unemployment rate was almost stable in the second quarter at 7.4% of the active population (but still lower by 0.8 points compared to the end of 2019), the executive knows what compelled to keep its promise. Eradicating mass unemployment means going down to around 5%. That is to say, to return to the situation of the end of the 1970s, when the second oil shock gave the coup de grace to the Trente Glorieuses.