France unemployment rate projected to hit 8.2%, highest since 2019

A Bloomberg poll of 16 economists predicts France’s unemployment rate will rise to a median 8.2% in 2024, the highest level since 2019. The increase reflects sluggish economic growth and geopolitical uncertainty that are discouraging companies from hiring.

To address a widening fiscal deficit, Finance Minister Roland Lescure announced an additional €3 billion in spending cuts, aiming to bring the deficit down to 5% of GDP by 2026. The government also lowered its 2026 GDP growth forecast to 0.7%. Bloomberg Economics analyst Jean Dalbard said the labour market is expected to stabilise, with a more pronounced rebound possible in 2027.