Report
Patrick Artus

Employment in France: Where is there still progress to be made?

Emmanuel Macron is aiming to bring down the unemployment rate to 7% at the end of his five-year term (it was 8.1% in the fourth quarter of 2019). But an employment policy cannot be judged on the unemployment rate alone. One must also look at: The employment rate and the participation rate (the proportion of the working-age population in the labour market), overall and by age bracket. Parallel rises in the participation rate and the employment rate are a good thing, and yet they do not drive down the unemployment rate; The nature of the jobs created, with two potentially contradictory criteria: are these jobs good-quality? Do they reduce unemployment? Where is there still progress to be made in France, in comparison with other OECD countries? The employment rate and the participation rate among over 60s must be raised; It is important to avoid a situation where the French people who return to the labour market in low-skilled jobs, which correspond to the profile of unemployment, remain forever stuck in these jobs. This highlights the importance of training .
Provider
Natixis
Natixis

Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.

 

Analysts
Patrick Artus

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