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PARIS, Nov. 15 — France’s unemployment rate rose faster than expected to 7. 4 in the third quarter, according to official statistics released today.
Analysts polled by Reuters had forecast a 7. 3% rise for the quarter, with an unrevised 7. 2% rise in the second quarter.
This point of 7. 4 percent, or 2. 3 million people, is the one since the second quarter of 2022.
The INSEE statistics institute reported that youth unemployment increased in the third quarter by 0. 7 points, up to 17. 6.
Meanwhile, long-term unemployment remained unchanged at 1. 8 percent of the labor force, its lowest point since early 2009, the second quarter of 2020, when data was skewed due to the first Covid lockdown that prevented other people from registering as job seekers. .
Yesterday, the Organisation for Economic Co-operation and Development (OECD) said its unemployment remained solid at 4. 8% in September 2023. –Reuters