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Financial News: France Q3 Unemployment Rate Falls Slightly

France Q3 Unemployment Rate Falls Slightly

11/15/2022 - 01:45:00 (RTTNews)

(RTTNews) - France's unemployment rate fell slightly in the third quarter, the labor force survey results from the statistical office INSEE showed on Tuesday.

The ILO jobless rate slid to 7.3 percent, as expected, from 7.4 percent in the second quarter. The number of unemployed decreased by 17,000 over the quarter, and reached 2.3 million.

Meanwhile, the unemployment rate among youth aged between 15 and 24 rose by 0.3 points to 18.3 percent. Nonetheless, youth unemployment has remained 3.3 points below its pre-crisis level.

Among the unemployed, 600,000 people were declared as jobless and having been seeking jobs for at least one year. The long-term unemployment rate came in at 2.0 percent of the labor force in the third quarter.

Data showed that about 4.5 percent of employed people were underemployed. This share went down by 0.1 points over the quarter.

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