A two-speed rebound behind record growth of 7%

• In 2021, France can boast of having a 7% growth, a score not reached for fifty-two years.

• A record economic rebound of which some French people will not see the color.

  Indeed, for many of them, 2021 rhymes more with precariousness than recovery.

• This spectacular growth praised by the Minister of the Economy Bruno Le Maire this Friday morning can even be difficult to live with for the most precarious, as explained to

  20 Minutes

  Louis Maurin, director of the Observatory of inequalities and Henri Sterdyniak, macro -economist at the French Observatory of Economic Conditions.

Cocorico, France is showing growth of 7% in 2021, the highest score for fifty-two years.

But behind this flattering figure, deep inequalities remain, even widening.

2021 certainly marks the return of growth after the recession of 2020, but it was also the year of swollen food lines of students and that of an explosion of precariousness in the country.

According to an Ifop study carried out in December 2021, 51% of people in France are afraid of falling into precariousness, including 69% of 18-25 year olds.

“The 7% growth, I don't see them on a daily basis, bitterly ironically Chloé *, a 27-year-old Breton woman looking for a job in Web-development interviewed by

.

The job market remains totally devastated.

If the standard of living was relatively stable for the workers at the post office, in particular thanks to partial unemployment and aid to companies, the crisis persists for job seekers.

“During uncertain times, companies' first instinct is to stop hiring.

The gap between people in office and the unemployed has widened even more this year, ”confirms

Henri Sterdyniak, macro-economist at the French Observatory of Economic Conditions (OFCE).

A cake not accessible to all

Admittedly, the number of unemployed without activity fell by 12.6% in one year.

But this figure is somewhat skewed as it compares to 2020,

economically.

Same verdict for growth: “Yes, growth increased by 7%, but after falling by 8% a year ago.

Compared to a "normal" situation, we are missing 2.4% growth.

The situation remains less good than in 2019 for example,” moderates the economist.

Thus, for example, if unemployment among young people under 25 fell by 17.8% compared to 2020, it still concerned 20% of this population in January 2022. in France, young people are neither eligible for the RSA nor for the minimum income, which is even less understandable for them with such a growth rate,” continues Henri Sterdyniak. The economist considers that the disappearance of small jobs – tourism, food service, delivery, etc. – essential for some students in particular, has never really been taken into account by the government.

“During a recession, we tell ourselves that we are all in the same boat and, paradoxically, we live better in precarious situations, because we know that they are common to practically everyone.

When growth resumes, tensions over the sharing of wealth increase.

Everyone wants their share of the cake, and those left behind feel cheated, ”abounds Louis Maurin, director of the Observatory of Inequalities.

France at two speeds

With “whatever the cost” and massive state aid, “companies ultimately suffered little from the crisis in 2020, and recorded profits in 2021, generating large dividends. From this point of view, yes, growth widens inequalities, especially since there is the feeling that the aid from which companies have benefited will not be redistributed in society”, supports the member of the OFCE. “While my fridge was empty all year, companies were self-gorging on all kinds of bonuses,” plague Charles*, a 24-year-old unemployed computer scientist.

The paroxysm of these inequalities is found on the side of the French billionaires whose fortune increased by 86% between March 2020 and October 2021. But if the symbolism is strong, the figure is so above ground that the French are ultimately not very sensitive to it: “The indignation concerns rather the same social groups.

An unemployed young person will be more hurt to see people of his age on permanent contracts than to know the amount of Bernard Arnault's fortune, ”comments Louis Maurin.

An observation shared by Chloé: “I often cry when promotion colleagues talk to me about their work.

France is starting up again, the situation is getting better, and I'm still like an unemployed bitch.

There is the impression of having missed the bandwagon, that everything is better except for me”

"It's the growth of inequalities, not the economic recovery"

The words of the Minister of the Economy Bruno Le Maire this Friday, welcoming “the spectacular rebound of the French economy” and “an erased economic crisis”, may therefore seem difficult for some to hear.

"Between the discourse of miracle growth and social reality, there is a world of difference", deplores Louis Maurin.

Charles attacks: “Growth is clearly not for everyone.

People already well before the coronavirus are even more comfortable now, while those who struggled toil even more to survive.

It's the growth of inequality, not economic recovery.

»

And the situation should not improve so much, concludes the director of the Observatory of inequalities: “France hopes to return to the level of 2019. But 2019 was already a year full of inequalities, with many French people in precarious situations.

»

*Names have been changed.

Economy

After the 2020 recession, GDP growth reached 7% in 2021, the highest for 52 years

Magazine

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• Relaunch

• Coronavirus

• Inequality

• Youth

• Growth

• precarious

• Economy

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