Financial News: French Unemployment Rate Rises In Q3

French Unemployment Rate Rises In Q3

11/13/2024 - 01:52:00 (RTTNews)

(RTTNews) - France's unemployment rate rose marginally in the third quarter, data from the statistical office INSEE showed on Wednesday. The ILO jobless rate rose to 7.4 percent from 7.3 percent in the second quarter. The rate was 7.4 percent in the same period last year and also matched expectations.

Nonetheless, the unemployment rate remained only slightly above its lowest level since 1982.

The number of unemployed people increased 35,000 from a quarter ago to 2.3 million, data showed.

The unemployment rate among young people aged between 15 and 24 hit the highest since the first quarter of 2021. The rate came in at 19.7 percent, which was up sharply from 17.9 percent a quarter ago.

Further, the statistical office said that about 1.8 million wanted a job without being considered unemployed, because they either did not seek a job or were not immediately available, they made up the halo around unemployment. This number fell 89,000 from the prior quarter.

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