France Jobless Rate Lowest Since Q3 2012


France unemployment rate dropped to 9.9 percent in the June quarter of 2016 from 10.2 percent in the first quarter. It was the lowest jobless rate since the September quarter 2012.

In metropolitan France only, with 2.8 million people, 9.6 percent of the active population was unemployed, lower than 9.9 percent in the previous three months. The unemployment decreased all age groups, particularly among youths. Compared to the previous year, it dropped by 0.5 percentage points. Among inactive people, 1.5 million wish to work but they are not considered as unemployed (unemployment halo). The number of people in the unemployment halo rose  by 29,000 quarter-on-quarter in the June quarter and up by 43,000 over a year.

In the three months to June 2016, the employment rate of the population aged 15-64 years stood at 64.7 percent, up 0.1 percentage points compared to the first quarter. Permanent employment rate for people aged 15-64 came in at 48.8 percent in the second quarter, unchanged from thr preceding quarter but up by 0.2 percentage points year-on-year. Meanwhile, fixed term and temporary contracts employment rate stood at 7.4 percent, up 0.1 percentage points from the previous quarter and over the year.

The activity rate of people aged 15-64 decreased  by 0.1 percentage points to 71.6 percent in the second quarter and up by 0.1 percentage points year-on-year.

About  6.7 percent of the persons employed were underemployed, increasing by 0.3 percentage points over the quarter. Slack work stood at 0.5 percent of the persons employed (+0.3 percentage points quarter-on-quarter).

Insee l Rida Husna | rida@tradingeconomics.com
8/18/2016 7:15:56 AM