Moving right along for my third post on the economy of France for my macroeconomics class. Since we discussed unemployment this past week in class, I thought it would good to look up information and write about the unemployment of France.
I found a website that included some exact information we discussed in class. According to tradingeconomics.com, it seems that France's unemployment rate is pretty high. This website discusses what is covered in our notes that the work labor has a 10% unemployment rate. And the term work labor means those that are working or looking for it and the non labor would include those that are not looking, those that are affiliated with the military and those who are in institutions. The unemployment rate has only increased because according to another website, dallasfed.org with an article titled "Why is French Unemployment So High?", in 2001 the percentage was around 9% and now it is currently at 10%. If someone is signed up for unemployment in the U.S. it usually lasts for several months but in France it can last up to four and half years. In my opinion, I think this is way to long to be giving out benefits to people that are unemployed. Now how is France trying to fix all this? According to dallasfed.org, there was a study done which insisted that France should really lower the time allowed for unemployment benefits and become more strict on who should be allowed these benefits.
The government is trying harder to have unemployed people look for jobs and the French economist has said that France should strengthen the efforts to have it strongly required to have these people search for jobs if they want to obtain benefits. I hope this was a little helpful to everyone!
Oh, above are a couple charts to compare France's unemployment rate within the past few years and one comparing it to the United States(although the one with the U.S. is not quite up to date). I also got these graphs from both of the sites that I mentioned above.
This post was very interesting since this was exactly what we talked about in class on thursday. I can not believe that France allows people to collect unemployment for such a long period of time. I would think people take advantage of this situation often. The above charts were very interesting and informative. Great post.
ReplyDeleteGood idea posting about a class topic. I enjoy your writing style and you included a large amount of useful information. Interesting that it might be considered a good thing to give people larger unemployment benefits, don't you think this makes people stay on the programs longer?
ReplyDeleteit sounds like the french economy really cares about its people if its going to support them for such a long period of time. I also think writing about information relevant to what we discussed in class is a good idea, because it gives you some sort of guideline on what to blog about each week.
ReplyDelete