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Employment: historic rebound in unemployment, sharply rising in France

2020-11-10T08:09:06.133Z


In the third quarter it reached 2.7 million people, or 9% of the working population.Ineluctably, he climbs. The unemployment rate jumped 1.9 points in the third quarter of this year, reaching 9%, according to figures released on Tuesday by INSEE. This strong increase comes after a fall "in trompe-l'oeil" in the two previous quarters. France has 2.7 million unemployed (excluding Mayotte), or 628,000 more people over the quarter, between July and September. Over one year, the unem


Ineluctably, he climbs.

The unemployment rate jumped 1.9 points in the third quarter of this year, reaching 9%, according to figures released on Tuesday by INSEE.

This strong increase comes after a fall "in trompe-l'oeil" in the two previous quarters.

France has 2.7 million unemployed (excluding Mayotte), or 628,000 more people over the quarter, between July and September.

Over one year, the unemployment rate, measured according to the standards of the International Labor Office (ILO), is up 0.6 point.

The figure is in line with the Institute's latest forecasts.

In an economic report in early October, INSEE predicted that the unemployment rate would reach 9% in the third quarter and then 9.7% at the end of 2020, i.e. 1.6 points more than a year earlier.

The reconfinement decided since, in the face of the strong second wave of the Covid-19 epidemic, however, makes the economic forecasts for the end of the year and for 2021 complicated.

Never seen since 1975

And the numbers sometimes struggle to express the severity of a situation.

Thus, in the second quarter, despite the decline in the number of jobs, the unemployment rate had fallen by 0.7 points to 7.1%.

This drop was linked to confinement which prevented many unemployed people from looking for one.

Already in the first quarter, the unemployment rate had fallen by 0.3 points to 7.8%.

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If "the third quarter marks a return to normal in terms of research behavior and therefore records a sharp increase in unemployment", this rebound "has been on an unprecedented scale since INSEE measured it (1975) but is partly mechanical, as a consequence of the fall in trompe-l'oeil linked to confinement, ”thus indicates INSEE.

The rise in the unemployment rate is more pronounced for 25-49 year olds (+ 2.1 points) and 50 and over (+ 1.7 points) than among young people aged 15 to 24 (+ 0.9 point).

But the young people had suffered more in the previous quarter.

In total, over one year, the unemployment rate has increased more for young people (+ 2.6 points) than for other age groups.

Source: leparis

All business articles on 2020-11-10

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