A half-hearted ad. The unemployment rate remained almost stable in the third quarter of 2021 (+0.1 point compared to the previous quarter) to stand at 8.1% of the working population in France (excluding Mayotte), according to figures published on Friday. November 19, by INSEE. This is worse than what the National Institute of Statistics had predicted in its last economic report, in early October, anticipating an unemployment rate of 7.6% in the third quarter.
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In the third quarter, the number of unemployed according to the International Labor Office (BIT) in France (excluding Mayotte) reached 2.4 million people, or 52,000 more over the quarter. Unemployment rate “has fluctuated between 8% and 8.1% since the fourth quarter of 2020, at the same level as in the fourth quarter of 2019, before the health crisis”, specifies INSEE.
“This virtual stability of the unemployment rate in the third quarter of 2021 results both from the strong dynamism of employment and that of the active population, as in the previous quarter”, continues the institute. Over the quarter, the unemployment rate increases for 15-24 year olds (+0.3 point) and stabilizes for 25-49 year olds and 50 years and over, details INSEE. Compared to the respective pre-crisis levels (end of 2019), it is clearly below for young people (-1.2 point) and almost identical for people of middle age (-0.1 point) and seniors (+0.1 point).
Regarding the “halo around unemployment”, or unemployed people who want one but who do not meet the other ILO criteria to be considered as unemployed, he “decreases markedly”, notes INSEE, with 1.9 million people in this category, down 175,000 over the quarter.
The long-term unemployment rate is stable. Among the unemployed, 0.7 million say they have been unemployed and have been looking for one for at least a year. The long-term unemployment rate stood at 2.4% of the working population in the third quarter of 2021, the same level as in the previous quarter and 0.2 points higher than its level at the end of 2019.