FX.co ★ France reports on highest unemployment in last two years

According to the data provided by the National Institute of Statistics and Economic Studies, Insee, in the third quarter of 2020, France’s unemployment rate showed an unprecedented rise. Insee emphasizes that the indicator hit the record high for the first time in two years.

Thus, in the third quarter of the year, unemployment jumped up to 9%. In the previous three months, the indicator was at the level of 7.1%. Such a high reading was last recorded in 1983.

These figures disappointed analysts who had expected a rise to 7.9%. At the same time, during the period from July to September 2020, employment in France climbed by 0.9 percentage points to 65.1%.