The unemployment rate in France edged down to 7.3% in the fourth quarter of 2024, from 7.4% in the previous period, coming in below market expectations of 7.5%.
France jobless rate declines to 7.3% in Q4
The number of unemployed persons declined by 63,000 over the prior period, bringing the total to 2.3 million, signaling a continued, albeit gradual, improvement in the labor market.
Among different age groups, the unemployment rate for young workers aged 15 to 24 saw the most significant decline, falling by 0.8 percentage points to 19%, reflecting improving job prospects for entry-level positions. Meanwhile, the jobless rate for those aged 25 to 49 dipped slightly by 0.1 percentage points to 6.5%, indicating relative stability in employment for the prime working-age population. In contrast, the unemployment rate for those aged 50 and over increased by 0.1 percentage points to 4.8%, suggesting that older workers may be facing greater difficulties re-entering the job market or securing stable employment.
Further details
By gender, the jobless rate for women remained nearly unchanged at 7.1%, while it declined by 0.2 percentage points to 7.5% for men, marking a slight improvement in male employment conditions. The activity rate, which measures the proportion of the working-age population either employed or actively seeking work, declined by 0.3 percentage points to 74.4%, indicating a modest drop in labor force participation.
Some challenges remain
The latest data suggests that while France's labor market continues to make gradual progress, challenges remain, particularly for older workers and young job seekers. Analysts will be closely watching future trends in job creation, particularly in light of broader economic conditions, potential labor market reforms, and global uncertainties that may influence hiring decisions in the coming months.
