Unemployment in France Reaches 8.3%, 2027 Budget Without Planned Reforms

The unemployment rate in France has reached 8.3% of the active population, its highest level since autumn 2020, with an increase of 62,000 unemployed people in the last quarter, bringing the total to 2.7 million. Young people aged 15 to 24 are the most affected, with a rate of 21.6%. This rise in unemployment continues for the sixth consecutive quarter, signaling a persistent deterioration of the job market. In response to this situation, the government is preparing a finance bill for 2027, which will be presented before October 7. Prime Minister Sébastien Lecornu is counting on a "reversible" budget, without major tax reforms, to avoid parliamentary censure. Economists believe that the goal of reducing the deficit to 5% of GDP seems out of reach, as growth stagnates at 0% and debt exceeds 117% of GDP. The economic situation is complicated by a purchasing power affected by inflation.

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