The number of unemployed individuals in mainland France increased by 53.6 thousand to reach 2.892 million in October 2024, marking the largest rise since the pandemic-driven spike in April 2020, and the highest level since September 2022.
French unemployment rises the most since 2020
This uptick challenges the perception that the French labor market has remained resilient in the face of higher interest rates set by the ECB, supporting the argument made by dovish members of the Governing Council.
Jobless details
The increase in joblessness was most pronounced among the core working-age population, rising by 26.5 thousand to 1.685 million, followed by youth unemployment (up 14.3 thousand to 408 thousand), and those over 50 (up 12.8 thousand to 799 thousand).
