François Hollande has renounced the presidential election, but his results remain a crucial element of the upcoming election. And for the second consecutive year, unemployment is down in France in 2016, reaching 10% of the active population.
A decrease of 0.2% compared with the year 2015, and 0.1% compared to the previous quarter. Since last August and for the first time since 2012, the unemployment rate remains below the symbolic mark of 10%. The private sector has the best performance, with more than 190,000 new jobs created in one year, the highest ever since the beginning of the economic crisis. Although there are more permanent contracts, there is still a downside: they only offer more part-time work.
This decline is flagrant in the case of unemployment of the under-25 years old. The government’s 500,000 additional trainings plan has brought results: 0.7% of young people have left the ranks of jobseekers, which represents the best year for them since 2007. For seniors, on the other hand, the situation has not improved.
Rising growth, enough for the unemployment ?
According to the figures published by INSEE, the French economy created 191,700 jobs last year. A situation largely due to the resumption of growth in France. Close to zero at the beginning of the five-year term of François Hollande, growth has been on the rise for several quarters now. A rise of 0.4% in the fourth half of 2016, with a growth rate of 1.2% in 2016. Numbers of unemployed need to remain below 1.5% for a longer period of time, for the French economy to recover.
Sylvain Labourdette, IEJ3C