France unemployment rate stable at 7.5%

AFP - [email protected]
France unemployment rate stable at 7.5%
French President Emmanuel Macron has set a target of full employment by 2027. Photo by Ludovic MARIN / POOL / AFP

France's official jobless rate was stable at 7.5 percent for the final quarter of 2023 as statistics agency INSEE revised upwards by 0.1 percent its initial estimate on Tuesday.


The fourth quarter saw the number of jobless nationwide rise 29,000 over the third quarter to 2.3 million with the rate 0.4 percentage points higher than the 40-year-low it had reached at the end of 2022.

President Emmanuel Macron has set himself the target of full employment by the end of his second and final mandate in 2027 - that statistically counting is 5.5 percent or below.

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While progress still has to be made on that measure, French joblessness has dropped back considerably from a mid-2015 peak of 10.5 percent.

Unemployment among the young, for those aged 15 to 24, remains stubbornly high, albeit dropping back 0.2 percent in the final quarter of last year to 17.5 percent but that tally is 0.6 percent above the end of 2022.

The long-term jobless figure, for those out of work for a year or longer, stood at 1.8 percent, a minuscule increase on a year earlier.


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