The rate of unemployment in the second quarter (-0.1 points), to reach 9.1% in France, according to provisional figures published by INSEE on Tuesday. The unemployment rate calculated according to the standards of the International Labor Office fell to 0.3% in the United States to 8.7% of the active population, a decline which was mainly manifested among young people, according to the published Tuesday by INSEE.
After a slight recovery in the first quarter, the rate of decline in the second quarter (-0.1 points), to reach 9.1% in France, according to provisional figures published by INSEE on Tuesday. Over one year, the unemployment rate, measured by the National Institute of Statistics according to the standards of the International Labor Office (ILO), is down 0.3 points.
The indicator remains above the level of 8.9% (revised downwards) at the end of 2017.
Lowest level in ten years for 15-24 year olds
The decline in the second quarter is less than expected. In its latest forecasts published in June, INSEE was counting on a 0.2 point decline. All these developments are however to be analyzed with caution, as they are within the indicator’s margin of error (+/- 0.3 pt). In the quarter, young people and intermediate age groups saw their situation improve, while that of seniors remained stable.
The unemployment rate for 15-24 year olds was 20.8%, the lowest level since the end of 2008, and the 50’s and over unemployment rate at 6.5%.
On average, INSEE recorded 2.70 million unemployed in the second quarter, down 48,000 over three months and 104,000 over one year. In the second quarter, the metropolis recorded a larger drop than the rest of France, at 8.7%. In absolute terms, INSEE recorded 2.54 million unemployed. Of these, 1.04 million have been looking for work for at least a year. The long-term unemployment rate is stable over three months at 3.6% of the labor force.
Other rather positive indicators
In parallel with the unemployment rate, the “halo around unemployment” also fell in the second quarter. Those wishing to work, but not counted because they were not available immediately, were 1.46 million in the second quarter (-19,000 in the quarter, -25,000 in one year).
In addition, the rate of underemployment, that is, who would like to work more, also fell slightly to 5.9% in the second quarter. It decreases 0.2 point over one year.This is mostly part-time workers suffered.
Finally, the employment rate, ie the proportion of 15-64-year-olds who work, slightly increased (+0.1 point), to 65.8%, its highest level since the beginning of the 1980s.
