Is the objective of full employment compromised?

In the last quarter of 2023, the unemployment rate set by the ILO is 7.5% of the active population. The rate is intended to remain stable compared to the previous quarter of the same year, which was estimated at 7.4%. That is a very slight increase of more than 0.1 points, INSEE announced this Tuesday, February 13.

The number of unemployed in France (excluding Mayotte) at the end of 2023 as defined by the International Labor Office (ILO) is 2.3 million people. A slight increase of around 29,000 subjects was recorded in the last quarter of 2023 compared to the previous quarter of the same year. The unemployment rate in the ILO sense is thus, in the last quarter of 2023, 7.5% of the active population.

The rate barely increased by more than 0.1 points, showing stability compared to the rate recorded in the previous quarter of the same year. These are the figures released by the National Institute of Statistics and Economic Studies (INSEI).

A slight decline in youth unemployment and an increase among the elderly

The organization also noted that the unemployment rate is 0.4 points higher than its level at the end of 2022, the lowest since 1982. But it remains well below its peak of minus 0.3 points in June 2015. In detail, in the quarter by age category, the INSEE publication shows a decrease of 0.2 points in the unemployment rate in the 15 – 24 year category to 17%. However, this is 0.6 points higher than in 2022.

On the other hand, for the 25 – 49 age category, the rate once again increased by 0.2 points in the quarter to reach 7%. A rate that has increased by 0.5 points compared to its level for 2022. There remains a category of “seniors”, for those aged 50 and over, the unemployment rate is established almost on a straight line with stability over the quarter (barely -0.1 point) as the relationship of the previous year established at the same rate of 5.0%.

A breakdown by gender also shows stability well over the quarter with the unemployment rate for women falling by just 0.1 points to 5.0%, while the rate for men rose by just 0.1% to 7.6%. Please note that the next INSEE publication for the 1st quarter of 2024 should take place on May 17 at 7:30 am, the organization clarifies.

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