According to figures released by INSEE on Tuesday May 17, 2022, the unemployment rate was 7.3% for the first quarter (except Mayotte) and 7.4% for the final quarter 2021.
The International Labor Office (ILO), which defines the number of people unemployed, reported that 2.2 million people were in the first quarter. This is 18,000 more than the previous quarter. The unemployment rate has fallen to its lowest point since 2008. The INSEE reports that the unemployment rate is at its lowest level since 2008.
After falling by 3.5 points in the prior quarter, the youth unemployment rate saw a slight rebound (0.3%) over the quarter. It was 6.6% for those 25-49 years old, but fell by 0.2 for those 50 and older, where it was 5.6%.
The “unemployment halo”, also known as the “unemployment halo,” is a term that refers to people who want to work but don’t meet other ILO criteria. It is defined as unemployed people who are looking for work, but don’t meet the ILO criteria to be considered “unemployed”. This number remains stable at 1.8 million.
At 2.2% of active population, the long-term unemployment rate remains stable. 700,000 people are unemployed. The 68% employment rate for those aged 15-64 rose by 0.2 percentage points. This puts it at 68%, which is higher than the historical record since INSEE measured in 1975.
For young people, it increased by 0.7 points to 34.6%. This is its highest level since 1991. It rose by 0.2 points for those between 25 and 49 to 82.5%. This is its highest level since 2009. The 65.5% rate for 50-64-year-olds is also stable at 65.5%. This is its highest ever level. The share of people who are part-time and want to work more, or on partial unemployment, fell by 0.3 percentage points to 4.7%. This is its lowest level since 1992.
Activity rate, or people in work or unemployed, for 15-64-year-olds increased by 0.2 point to 73.4%. It returned to its highest level in the third quarter 2021.
