French Q1 Jobless Rate Unexpectedly Rises to 9.2%


The unemployment rate in France unexpectedly increased to 9.2 percent in the three months to March of 2018 from an upwardly revised 9 percent in the previous period and missing market consensus of 8.8 percent.

The average ILO unemployment rate in metropolitan France and the overseas departments (excluding Mayotte) rose to 9.2 percent from 9 percent in the previous period. It was the lowest level since early 2009. In metropolitan French only, the unemployment rate increased by 0.3 percentage points from the preceding quarter to 8.9 percent, as the number of unemployed went up by 83,000 to 2.6 million. The unemployment increased across all age groups, particularly among women aged 15 to 49. Among unemployed, 1.1 million were seeking a job for at least one year. The long-term unemployment rate  came in at 3.6 percent, almost steady compared to the December quarter (-0.1 points) and fell by 0.5 points from a year earlier.

In the first quarter, the employment rate of the population aged 15-64 years stood at 65.7 percent, remaining at the highest level since early 1980s. It increased slightly for persons aged 50 to 64 and was almost stable among other age groups. Over a year, the employment rate increased by 1.0 percentage points.

About 6 percent of the employed persons were underemployed, meaning that they had a part-time job but wished to work more. The ratio increased by 0.4 percentage points compared to Q4, and by was almost steady year on year.

The activity rate of people aged 15-64 edged up to 72.2 oercent (from 72.0 percent in the preceding quarter). Over a year, it increased by 0.8 percentage points. Among inactive people, 1.5 million persons wished to work without being considered as unemployed according to the ILO definition: they made up the halo of unemployment. Their number fell by 22,000 compared to Q4 and nearly steady over a year (-10.000).

French Q1 Jobless Rate Unexpectedly Rises to 9.2%


Insee l Rida | rida@tradingeconomics.com
5/23/2018 6:33:18 AM