Can we now already see positive effects of the labour market reforms in France?

The labour market reforms in France since 2017 have primarily consisted in: Caps on redundancy payments; Reforms of vocational training, apprenticeship and work-linked training ; Decentralising a number of labour market organisation factors (working hours, etc.) to the company level ; Enabling " collective contractual termination ": companies can lay off several voluntary employees without hav ing to justify particular economic problems . This normally leads to a decline in employers’ uncertainty and increased employability for employees and a greater capacity to adjust employment, all of which can be considered as equivalent to a fall in labour costs Since 2017, we should therefore normally see in France, in comparison with the past, a rise in employment and potential production, a decline in labour productivity, and a fall in structural unemployment. However, there has only been a slight acceleration in the employment rate. The labour market reforms in France have probably not had the time to work yet.