Is the fall in the unemployment rate in France a normal, simple consequence of the macroeconomic situation or an effect of the economic policies conducted since the election of Emmanuel Macron?

The unemployment rate has fallen sharply in France since 2015. The question is whether the fall in unemployment in France is due: In a normal manner, to development s in the macroeconomic situation (growth); To the economic policies (labour market reforms, tax reforms, vocational training, apprenticeship, etc.) conducted since the election of Emmanuel Macron in the spring of 2017. To decide between these two hypotheses, we look at trends in: The unemployment rate and the employment rate in France and in other large OECD countries; Productivity gains: fewer obstacles to hiring and falling labour costs lead to lower productivity gains ( and hence additional jobs); The unemployment rate for fragile segments of the populations affected by the reforms: young people , low-skilled; Companies’ hiring difficulties and their causes. All things considered, it seems to us that most of the indicators do not show any structural improvement in the labour market in France .