Posted Nov 15, 2022, 7:47 AMUpdated Nov. 15, 2022, 11:42 a.m.
A small step forward, a small step back. Once again, the unemployment rate as defined by the International Labor Office (ILO) was virtually stationary in the third quarter. It stood at 7.3% of the active population on average in France excluding Mayotte, down 0.1 point, to concern 2.3 million people, or 17,000 less than in the spring, according to figures published this Tuesday morning by INSEE.
The unemployment rate “has been hovering between 7.3% and 7.4% since the fourth quarter of 2021, at a level 0.7 points lower than in the third quarter of 2021 and 0.9 points lower than before the crisis health (end of 2019)”, notes the national statistical institute.
Young people and work-study
In detail, it increased by 0.3 point for young people to 18.3%, but remains 3.3 points below its level before the Covid crisis. It is almost stable (-0.1 point) for 25-49 year olds at 6.5%, and for 50 year olds or over at 5.1%.
On average, in the third quarter of 2022, the employment rate of 15-64 year olds increased by 0.3 points and reached 68.3%, again at its highest level since INSEE measured it (1975). Young people benefit in particular thanks to work-study programs.
The share of those who are not in employment, education or training, gathered under the Anglo-Saxon acronym “Neet”, fell by 0.4 points to 11.6%, or 0.7 points of less than at the end of 2019. At the other end of the spectrum, the employment rate for 50-64 year olds gained 0.3 points over the quarter and 0.9 points over one year to reach 66.3%, i.e. a new historical high point.
Even if the statistics are not of the same nature, this quasi-stability of the unemployment rate as measured by INSEE appears in line with that of the number of people registered with Pôle Emploi without activity. On the other hand, it bumps into the good health of private salaried employment, which increased by nearly 90,000 in the third quarter, according to still provisional figures.
For Yves Jauneau, head of the synthesis and economic situation of the labor market division at Insee, quoted by Afp, this discrepancy is explained by the increase in the active population. There are several reasons for this: increase in work-study training (the majority of apprentices were not unemployed before, but in school), return to the labor market of people attracted by the strong job creations, and other trend effects such as the continued increase in the activity of seniors. “We are confirming our objective of full employment”, commented the Minister of Labor, Olivier Dussopt, on Twitter.
Unemployment insurance: reform in sight
The publication of these figures comes a few days before the curtain is lifted on the next unemployment insurance reform. After consultation with the social partners, Olivier Dussopt will unveil on Monday the parameters of the compensation rules which are expected to evolve according to the economic situation.
At this stage, it is the duration of compensation that holds the rope thanks to a variation in the ratio between the number of days contributed and the number of days giving rise to payment of the allowance. This variation would depend on that of two indicators suggested Olivier Dussopt: Insee unemployment rate and ratio between the number of job offers available and unemployed registered with Pôle Emploi.
Deputies and senators have just agreed on the bill which paves the way for implementation in early 2023. The solemn vote will take place this week.