France’s unemployment hits highest level since 2020

France’s unemployment rate rose to 8.3% in the previous quarter, up from 8.1% in the prior period, reaching its highest level since 2020, the country’s National Institute of Statistics and Economic Studies (Insee) reported.

Analysts polled by Trading Economics had forecast an unemployment rate of 8.2%.

According to Insee data, unemployment was higher only in the third quarter of 2020, when it stood at 9%.

During the reporting period, the number of unemployed people in France increased by 62,000, surpassing 2.5 million.

Among young people aged 15 to 24, the unemployment rate stood at 21.6%, representing 740,000 people. For those aged 25 to 49, unemployment reached 7.5% (1.381 million people), the highest level since the first quarter of 2021.