unemployment rate almost stable in the second quarter at 7.4%, according to INSEE

The country reaches 2.3 million unemployed and returns to the same level as in the last quarter of 2021.

The unemployment rate is almost stable in the second quarter of 2022 at 7.4% of the active population in France (excluding Mayotte) against 7.3% in the first quarter of the year, according to figures published Friday by INSEE.

In the second quarter, the number of unemployed as defined by the International Labor Office (ILO) reached 2.3 million people, i.e. 29,000 more over the quarter, and returned to the same level as in the last quarter of 2021. The unemployment rate is back to its level of the fourth quarter of 2021.It is 0.5 points lower than its level in the second quarter of 2021 and 0.8 points lower than before the health crisis (end of 2019)“, indicates the INSEE.

Increase in youth unemployment

During the second quarter of 2022, the youth unemployment rate increased (+1.3 points to 17.8%), but remained well below its pre-crisis level (by 3.7 points). In the other age categories, it remained virtually stable among 25-49 year olds (+0.1 point, to 6.7%), and fell by 0.3 point among those over 50 (to 5.2 %).

Regarding the indicator of “halo on unemployment“, i.e. people wishing to return to the job market but who are not considered unemployed by the ILO (actually looking for a job and being available to take one), it increased slightly during the quarter to 1.9 million people (+0.1 point to 4.5%). The long-term unemployment rate (at least one year) fell very slightly, to 2.1% of the active population (-0.1 point) and remained 0.3 point below its level of one year ago.

As for the share of underemployment, people on partial unemployment or part-time and wishing to work more, it fell by 0.1 point over the quarter (i.e. 4.6 million people). This is the lowest level of underemployment since 1992.

The employment rate for 15-64 year olds isstable, at 68%“, or at its highest level since INSEE measured it (in 1975), adds the Institute of Statistics. Compared to the previous quarter, the rate increased by 1 point.

By age group, this rate increases by 0.3 point for young people (to 34.9%, the highest level since 1990), it falls by 0.2 point to 82.3% for 25-49 year olds, and increases by 0.5 point to 66% for 50-64 year olds, thus exceeding “its all-time high in the previous quarter».

SEE ALSO – Unemployment: France aims for the “full employmentfor 2026, according to Bruno Le Maire

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