France's unemployment rate experienced a slight increase in the third quarter, as reported by the statistical office, INSEE, on Wednesday. The jobless rate according to the International Labour Organization (ILO) rose to 7.4 percent, up from 7.3 percent in the second quarter. This rate mirrors the figure from the same period last year and aligns with forecasts.
Despite this rise, the unemployment rate remains only marginally above its lowest point since 1982.
The statistics indicated that the number of unemployed individuals rose by 35,000 from the previous quarter, reaching a total of 2.3 million.
Particularly concerning is the unemployment rate among those aged 15 to 24, which surged to its highest since the first quarter of 2021. The rate leapt to 19.7 percent, a notable increase from the 17.9 percent recorded in the previous quarter.
Additionally, the statistical office noted that approximately 1.8 million individuals were desiring employment but were not classified as unemployed. This was due to either not actively seeking work or being unavailable immediately, constituting the group referred to as the 'halo around unemployment.' The number in this category decreased by 89,000 from the preceding quarter.