| Actual | Previous | |
|---|---|---|
| Rate | 7.2% | 7.1% |
Highlights
French unemployment ticked higher in the first quarter to 7.2 percent from the previous quarter (7.1 percent). The implementation of the Full Employment Act during the quarter effectively increased the number of people registered with the French employment office. The halo around unemployment, fell by 109,000 in the first quarter, in contrast to a sharp increase in the previous quarter.
Encouragingly, the employment rate rose 0.4 points over the fourth quarter to 69.5 percent. Among those aged 15 to 24, the rate increased 1.1 points to 34.8 percent, but still remains 0.3 percent below its level of the first quarter of last year. For people between 50 and 64, the employment rate rose 0.4 points to 69.3, its highest level since 1975.
Both part-time and underemployment were for the most part stable during the first quarter, the latter rising 0.1 percent to 11.6 percent. Those registered as underemployed was 4.2 percent, down 0.1 percent from the fourth quarter.
Overall the results point to labor market stability with some encouraging signs emerging, although it is unclear whether the number of older workers are returning to the labor force due to higher prices for necessities.
Encouragingly, the employment rate rose 0.4 points over the fourth quarter to 69.5 percent. Among those aged 15 to 24, the rate increased 1.1 points to 34.8 percent, but still remains 0.3 percent below its level of the first quarter of last year. For people between 50 and 64, the employment rate rose 0.4 points to 69.3, its highest level since 1975.
Both part-time and underemployment were for the most part stable during the first quarter, the latter rising 0.1 percent to 11.6 percent. Those registered as underemployed was 4.2 percent, down 0.1 percent from the fourth quarter.
Overall the results point to labor market stability with some encouraging signs emerging, although it is unclear whether the number of older workers are returning to the labor force due to higher prices for necessities.
Definition
The unemployment rate measures the number of unemployed as a percentage of the labour force. It is based on the International Labour Organization (ILO) definition of unemployment, which excludes jobseekers that did any work during the month and covers those people who are looking for work and are available for work. The report contains data on both total joblessness and just mainland unemployment; the latter is regarded as the more significant.
Description
The data report the number of unemployed persons (quarterly average) for metropolitan France and for metropolitan France plus overseas departments. The metropolitan measure is regarded as the more useful guide.
The data provide a comprehensive report on how many people are looking for jobs and the unemployment rate. These numbers are the best way to gauge the current state as well as the future direction of the economy.
Despite the delay in publication of these data, investors can sense the degree of tightness in the jobs market. If labour markets are tight, investors will be alert to possible inflationary pressures that could exist. If wage inflation threatens, it is a reasonable bet that interest rates will rise and bond and stock prices will fall.
The data provide a comprehensive report on how many people are looking for jobs and the unemployment rate. These numbers are the best way to gauge the current state as well as the future direction of the economy.
Despite the delay in publication of these data, investors can sense the degree of tightness in the jobs market. If labour markets are tight, investors will be alert to possible inflationary pressures that could exist. If wage inflation threatens, it is a reasonable bet that interest rates will rise and bond and stock prices will fall.
