Even if it is possible that poverty globally fell in 2020 thanks to the implementation of exceptional aid and a greater propensity of the French to save (which is yet to be confirmed), inequalities in terms of income and heritage remain important in France, we learn from the latest edition of the Observatory of inequalities.
Poverty had increased before the health crisis
In 2020, the French saved a lot. In total, over this year, household financial savings increased by 110 billion euros, or 4.5% of the GDP set aside. Compared to 2019, 40 billion additional euros thus garnish the bank accounts of individuals and 27 billion remunerated passbooks, the rest being collected in various forms of investments. But the ability to save is not at all the same according to social strata.
Indeed, the best paid 10% receive a salary at least 2.9 times higher than that of the lowest paid 10%, recalls the Observatory of Inequalities in its latest report. Poverty remains high in France: 5.3 million people live on less than 885 euros per month. In addition, the poverty rate for 18-29 year olds rose from 8.2% in 2002 to 12.5% in 2018, an increase of over 50%. Young adults are the age group where the risk of being poor is greatest, and for whom the situation has deteriorated the most in fifteen years.
Lack of qualifications, the main obstacle to employment
These inequalities in terms of income are above all due to the very different degree of professional integration. Before the onset of the health crisis, poor employment (unemployment, fixed-term contracts and temporary work) was very uneven. The unemployment rate of unskilled workers is five times higher (17.7%) than that of senior managers (3.5%).
In addition, 15.8% of non-graduates are unemployed. This rate is divided by three for holders of a bac + 2. Among young people, the lack of a diploma is even more disabling: 28% of workers under 30 with only a patent in their pocket are looking for a job.