Unemployment rate rises to 7.4% in third quarter

The unemployment rate recorded an increase in the third quarter, to 7.4% of the active population in France (excluding Mayotte), against 7.2 in the second quarteraccording to figures published this Wednesday by the National Institute of Statistics and Economic Studies (Insee).

“We could have expected such an increase given the global economic slowdown », Immediately affirmed the Minister of Labor Olivier Dussopt in a message sent to the press, affirming to remain “mobilized” in the face of this increase which he hopes to be “one-off”.

In the third quarter, the number of unemployed as defined by the International Labor Office (ILO) increased from 64,000 to 2.3 million people, notes INSEE in a press release.

Youth unemployment is increasing

The unemployment rate for the third quarter increases by 0.2 points over one year and returns to its level of the second quarter of 2022, but remains significantly below its peak in mid-2015 (-3.1 points), said the institute.

Over the quarter, the unemployment rate increased by 0.7 point for 15-24 year olds, to 17.6%, almost to its level a year earlier (-0.1 point).

For those aged 25-49, it increased by 0.2 points over the quarter and by 0.3 points over one year, to 6.7%. Finally, for those aged 50 or over, the unemployment rate is stable over the quarter and over one year, at 5.1%.

The long-term unemployment rate (at least one year) was also stable over the quarter, at 1.8% of the active population.

The “halo around unemployment”, i.e. people wishing to return to the job market but who are not considered unemployed by the ILO (actually looking for a job and being available to take one), is increasing, “ slightly” over the quarter (+39,000) and significantly over a year (+164,000), according to INSEE. Two million people are affected.

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