A news that the government revels in, a few months before the presidential election. The record drop in unemployment at the end of 2021, noted this Wednesday by the Statistics Department (Dares) of the Ministry of Labor “gives the way” to “achieve full employment”, around “5.6%”, estimated this Thursday Labor Minister Elisabeth Borne.
“With this very positive development, it gives the way. We will continue to achieve full employment, ”said Ms. Borne on CNews. According to figures released on Wednesday, the number of unemployed reached its lowest level in France in the fourth quarter for nearly ten years.
The number of job seekers in category A, without activity, in fact recorded a drop of 5.9% in the fourth quarter, ie 208,500 less registered compared to the previous quarter, to 3.336 million. Over one year, the decline is 12.6%, or 479,600 fewer unemployed.
A good dynamic
This record decrease more than erases the dramatic 7.5% rise in 2020 due to Covid. The number of unemployed thus reached its lowest level since the third quarter of 2012 at the end of 2021. According to the latest figures published in November by INSEE, the unemployment rate was 8.1% at the end of September.
Asked regarding the level at which we might speak of “full employment”, Elisabeth Borne replied: “Perhaps at 5.6%, I think that is what we can aim for given the good dynamics that we have been able to create in the last few months”.
However, the news deserves caution. This situation might be temporary and result from a post-crisis catch-up effect. Unemployment might rise once more once national economies have fully stabilized.
Moreover, when asked regarding the retirement age, the Minister repeated that it would probably be necessary to “work more” in the future. “What is clear is that to finance our social protection, to improve the competitiveness of our economy, there is no doubt that we will have to work longer,” she said, recalling that A meeting of the Pensions Orientation Council took place on Thursday. Asked regarding the age at which retirement might be set, she replied: “We had worked on a pivotal age of 64, we will see in the coming weeks what the right balance is”.
