The French economy: recovering or in difficulty?

2023-09-02 07:00:00

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CHRONIC. While certain aspects of the French economy (employment, unemployment, industry) are showing positive signals, others, such as productivity, are very worrying.

By Patrick Artus*

Another negative consequence of the stagnation of productivity, the stagnation of the purchasing power of the employee per capita, which will certainly cause growing dissatisfaction among the employees.
© Patrick Lefevre / MAXPPP / BELPRESS/MAXPPP

Published on 02/09/2023 at 09:00

Sf we look at the evolution of the French economy since the mid-2010s, we first see signs that lead to optimism. The employment rate (the proportion of the working-age population that has a job) has recovered by 3 points since 2015, the unemployment rate is at 7.1% ( once morest 10.5%, in 2015) , the business investment rate has exceeded its 2008 level in the recent period, the percentage of young people who are neither in employment nor in training is decreasing, while nevertheless remaining clearly higher than that observed in other European countries.

The supply-side policies carried out since the mid-2010s (reduction of the tax burden on companies and on household savings) have obviously had a favorable effect on investment and on…

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