French Unemployment Rate Slightly Drops to 7.3% in Late 2024

The decline of 0.1 percentage points marks a near-stable trend, though concerns grow over youth employment and long-term projections.

France's unemployment rate fell to 7.3% in the fourth quarter of 2024, a 0.1 percentage point drop from the previous quarter, according to INSEE.
This represents a decrease of 63,000 unemployed individuals, bringing the total to 2.3 million people, excluding Mayotte.
Youth unemployment saw a sharper decline compared to other age groups, though the number of young people not in employment or education rose to 12.8%.
The 'halo around unemployment,' referring to those desiring work but not actively seeking it, increased by 138,000 to reach 2 million individuals, particularly affecting students.
Despite the slight improvement, experts predict unemployment may rise to 7.6% by mid-2025 due to economic uncertainties and slowed hiring among small and medium enterprises.