French people, who have already experienced job losses, are very critical of the new austerity that the government wants.
Apparently everything is fine. The new unemployment insurance reform, which the government still wants to implement despite the dissolution, continues to receive support from a majority of the French. A new Ifop survey for the HR management company 365Talenter reminds us of this once again. More than every second person believes in its effectiveness.
Behind this aggregate, however, there are enormous differences. The unemployed are, unsurprisingly, among the most resistant to this new twist. 81% of them express doubts about its effectiveness. The fact is that the wall between employment and unemployment is more fragile than many employees imagine. “64% of the French have already faced unemployment in their lifetime”, the study points out. For 35% of them, this period lasted more than a year.
Not all generations are equal when it comes to this phenomenon. Among the older generations, who mainly experienced full employment during the 30 glorious years, only a third experienced unemployment. Conversely, the youngest and those who entered the labor market in the years after the sovereign debt crisis or the confinements during the pandemic were more precarious. 61% of 25-35-year-olds have already found themselves unemployed. The trend is not inevitable. Under the influence of a buoyant economic landscape in the wake of the Covid crisis and the business-friendly reforms implemented over the past ten years, unemployment has continued to fall. It thus went from 10.5% in 2015 to 7.5% today. “The fear of not finding a job has decreased significantly”stresses Ifop and 365Talent’s survey.
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Will these gains survive a majority change? The answer is no, if we are to believe Gabriel Attal’s speech this Thursday morning to elaborate on the central bloc program. “These general elections are “a societal choice, a value choice, a historical choice”, he warned, hoping to remobilize voters. The financial markets also think so. A few hours after the announcement of the resolution “dispersion” between France and Germany’s borrowing rate reached a historic level. A sign that confidence in the country is eroding.
