French Q3 Jobless Rate Unchanged at 9.1%


The unemployment rate in France stood at 9.1 percent in the third quarter of 2018, the same as in the previous period and slightly below market expectations of 9.2 percent.

In metropolitan France only, the unemployment rate was stable over a quarter, standing at 8.8 percent, with the number of unemployed increasing by 22,000 to 2.6 million. The unemployment rate rose among youths, especially among young men (up 1.0 point). It was stable for persons aged 25 to 49 and edged down for those aged 50 and over. Among the unemployed, 1.0 million were seeking a job for at least one year. The long-term unemployment rate fell to 3.4 percent in the September quarter from 3.6 percent in the previous period and 4.2 percent a year earlier.

The employment rate of the population aged 15-64 years increased by 0.1 points to 65.9 percent in the third quarter, its highest level since the early 1980s. It increased by 0.8 percentage points year-on-year. Over the quarter, it went up by 0.5 points for persons aged 15 to 24 and was almost unchanged among other age groups.

About 5.6 percent of the employed were underemployed, meaning that they had a part-time job but wished to work more. This share decreased by 0.2 points compared to Q2 2018, and 0.6 points over a year.

The activity rate of people aged 15-64 rose by 0.1 points to 72.3 percent, its highest level since the series began in 1975. It increased by 0.4 percentage points compared to Q3 2017. Among inactive people, 1.5 million wished to work without being considered as unemployed according to the ILO definition: they made up the halo of unemployment. The number was virtually stable quarter-on-quarter (up 8,000), and increased by 48,000 over a year.

French Q3 Jobless Rate Unchanged at 9.1%


INSEE | Rida | rida@tradingeconomics.com
11/20/2018 9:39:55 AM