2020 has certainly been a terrible year for the job market. But in light of the figures given by INSEE, the situation may not be as bad as expected.
Salaried employment was severely affected by the health crisis of 2020. According to INSEE’s annual report, 20,600 jobs were destroyed in the last quarter, including 28,200 jobs in the private sector (the public sector having a positive balance of 7,600 jobs). Over the year as a whole, the French economy destroyed 283,900 posts, including 320,300 in the private sector: this is obviously huge, but not as much as the fears of INSEE in December. ” Between the end of 2019 and the end of 2020, 597,000 salaried jobs would therefore have been destroyed », Then indicated the institute. Fortunately, we are far from it even if there is no reason to rejoice over it.
Three times less job losses than anticipated
” Employment suffers less than what had been anticipated. 320,000 jobs lost, that’s three times less than what had been anticipated », Bruno Le Maire explained to France 2. According to the Minister of the Economy, it is the measures taken by the government that explain the ” labor market resistance “. It is true that in view of the situation in the first and second quarters (which recorded job losses of around 488,000 and 201,000 jobs), the 2020 results could have been much worse. The rebound was very marked during the summer with 425,600 job creations, but the fourth quarter was hit by the new containment measures and the curfew.
The interim saves the furniture
The big losers of the year are the commercial services sector, where job losses amounted to 326,000, and industry (-57,500 jobs). On the other hand, the public service, construction as well as the non-market service sector have created jobs. As for the interim, after plunging by more than 40% in the first quarter (-317,300 jobs!), The rebound was significant throughout the year: the sector ended the year with an increase of 5.1 % in the last quarter, but a loss limited to 41,900 jobs in 2020.