France’s unemployment rate remained stable in the first quarter, following an increase in the previous quarter, as reported by the statistical office INSEE on Friday.
The International Labour Organization (ILO) unemployment rate was 7.5 percent for the first quarter, maintaining the same figure as the preceding quarter. This was slightly higher than the anticipated rate of 7.4 percent.
When compared to the first quarter of 2023, the current rate is up by 0.4 percentage points. It is noteworthy that the unemployment rate in the first quarter of 2023 and the fourth quarter of 2022 was the lowest since 1982, according to INSEE.
The number of unemployed individuals rose by 6,000, reaching a total of 2.3 million in the March quarter.
Youth unemployment—which affects individuals aged 15 to 24—saw an uptick of 0.6 percentage points from the last quarter, bringing the rate to 18.1 percent.