France witnessed a surge in unemployment figures during the fourth quarter of 2023 in reaching a total of 2.3 million individuals, marking an increase of 29,000 people compared to the previous quarter, according to a recent report published by the National Institute of Statistics and Economic Studies (INSEE).
This development was followed by a stable unemployment rate of 7.5%, as reported by the International Labour Organization (ILO), which sustained equilibrium compared to Q3 2023.
The overall unemployment rate saw a rise of 0.4 percentage points from the end of 2022 but remains notably lower than the peak observed in mid-2015. Unemployment fell by 0.2% among individuals aged 15 to 24, to 17.5%.
In contrast, those aged 25 to 49 saw a 0.2%-point uptick, reaching 7%, 0.5 percentage points higher than the previous year. For those aged 50 and above, the unemployment rate remained stable at 5%, consistent with the level recorded in 2022.
French President Emmanuel Macron has assigned himself the goal of full employment by the end of his second and last mandate in 2027, which is defined as 5.5 percent or lower.