“There were 142,000 more unemployed people in 2023, that is to say three and a half times more new unemployed than new jobs linked to foreign investments” | EUROtoday

VShis yr once more, the barometer on the attractiveness of France, revealed on May 2 by the agency EY (previously Ernst & Young) locations France on the high of probably the most engaging nations in Europe.

Editorialists from the financial press are delighted, praising the deserves of the France firm. The members of the federal government adopted swimsuit by defending their total financial coverage, from the discount in taxes on dividends to the extremely contested pension reform, together with reductions in prices for companies.

Let's say it immediately: the use product of this barometer is totally deceptive. When you have a look at the numbers intimately, there’s nothing to have fun. According to the barometer, France could have, in 2023, 1,194 international funding tasks in comparison with 985 within the United Kingdom and 733 in Germany, which locations our nation ” on your mind “ of the rating – a formulation utilized by many media.

But if we give it some thought just a little, this determine is of little use: the variety of tasks is much less necessary than the direct or oblique jobs generated by them. On this level, the barometer informs us that international funding tasks in France are related to 39,773 job creations. This is a primary nuance: France strikes into third place on the European scale of attractiveness, behind the United Kingdom and Spain.

But, here again, this indicator must be read with caution, because the number of jobs created should at least be related to the size of the country for the comparison to make sense. Once this adjustment is made, France comes in eighth position behind Portugal, Serbia, Ireland, Hungary, Spain, the United Kingdom and Greece. There is nothing to brag about.

Ideological proximity

Let's go further by questioning the importance of such figures for the French economy. The 39,773 jobs created in 2023 represent 0.13% of the total active population. These jobs are welcome and will help the territories which will benefit from them, but it is clear that the figure remains very low compared to the importance that some would like to attribute to it.

Another technique to see that is to check it to the change within the variety of unemployed final yr. According to figures from INSEE and the International Labor Office (ILO), there have been 142,000 extra unemployed folks in 2023, that’s to say three and a half instances extra new unemployed than new jobs linked to Foreign investments.

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