The Insee yesterday unveiled an unemployment rate fell below the symbolic 10% of the active population to 9.6%. This unexpected decline could be reinforced by the training plan 500 000 issued by the Government
Good surprise on the labor market. The unemployment rate INSEE fell sharply in the second quarter. It reached its lowest level since 2012.
After stabilizing earlier this year, the indicator measured by the standards of the International Labour Office (ILO), fell by 0.3 to 9.6% of the workforce in France but with 9.9% Overseas, revealed the National Institute of Statistics yesterday. So back four years ago, which operates on the unemployment front with a full rate in France dropped below the symbolic 10%.
On Twitter, Manuel Valls hailed from “good numbers”. “The government remains fully mobilized to reinforce this dynamic,” added the Prime Minister. For its part, Myriam El Khomri believes that this decline “confirms the gradual improvement in the economic situation.” Labour Minister sees “the result of deliberate government action” which it hopes will increase with the entry into force of the Labour law finally adopted this summer.
Changes however, to be analyzed with caution as it is within the margin of error of the indicator (+/- 0.3). The decline was sharpest year on year (-0.5 point).
Overall, INSEE recorded in the second quarter of 2.767 million unemployed metropolis in a decrease of 2.6% over the quarter (-4.6% year on year).
Increase “unemployment halo”
the magnitude of the decline in the second quarter is a surprise because the INSEE had expected in its latest monthly report published in June, to a 0.1 point decline. He actually fell by 0.3 points. Ironically, the upturn in employment comes as the recovery seemed to stall, with zero growth in the second quarter which presaged numbers lackluster. However, apart from the rate of INSEE, all other indicators of employment stalled between April and June: After an exceptional first quarter, the number of registered employment center only slightly decreased second quarter (5300 to class A), hires fell 2.2% and private sector job creations slowed (+24 100 jobs after four quarters around 40 000). The decrease by INSEE itself in perspective, as the “halo around unemployment” himself has slightly increased.
These people want to work, but not recognized because they are seeking not active or are not immediately available, was 1.5 million in mid-2016, the number increased by 29,000 on the quarter and 43,000 over the year.
in addition, the number people underemployed, that is to say, who like to work more, was up (+0.3 point), to 6.7%. This is, the majority of women in involuntary part-time.
If the unemployment rate INSEE deviates from its historical high (10.4% in France, 10.7% in all France) achieved in 1997, it remains far from its level before the crisis of 2008. That year, unemployment was down to 6.8% in France and 7.2% in France entirely.
Ramping up the plan 500 000
the purpose of the executive to reverse the unemployment curve by the end of year is still relevant. Especially since the plan 500 000 designed to add a half-million training for the unemployed by the end of the year is getting stronger. Announced in January by the President of the Republic, it is available since February. According to official figures, 380,000 jobseekers are registered training late July, against 227,000 a year earlier. The goal is to give them a welcome addition to return on the labor market and thus bring down the unemployment statistics.
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