Margaux Fodéré 10:10 a.m., February 21, 2024

Unemployment insurance anticipates a surplus four times smaller than expected for 2024. The explanation: deductions from the State, which seeks to finance France Travail. These withdrawals began last year, and they are reflected in Unédic's accounts.

For several months, the government has been considering dipping into the coffers of the private supplementary pension fund, Agirc-Arrco. But this is not the State's first attempt since in reality, a precedent has gone more unnoticed. This is a drain by the State directly from the Unemployment Insurance reserves which aims to finance the transformation of Pôle emploi into France Travail.

Except that the bill is steep! This Monday, Unedic did its accounts and revealed that unemployment insurance revenues were cut by two billion euros last year. And it will continue, since in total, the government plans to drain 12 billion euros from the Unemployment Insurance coffers over four years.

A first levy of 2 billion euros in 2023

The samples began last year and will last for another three years. A double penalty for unemployment insurance. Not only does this situation limit its ability to generate surpluses, but it also slows down its debt reduction, while Unédic is very indebted, recalls Jean-Eudes Tesson, its president. “12 billion on a debt of 60 billion, that’s a lot,” he laments at the microphone of Europe 1. “This is what we will not be able to repay and which also forces us to re-borrow to meet our repayment deadlines, by generating additional costs. It is estimated at around one billion euros over the period.

And if the unemployment insurance accounts have not yet taken on water, other measures could push them into the red. In search of 10 billion euros in savings, the government intends to involve state operators, including France Travail, partly financed by Unédic. 

“The State can, under the measures announced by Bruno Le Maire, consider reducing its contribution to the financing of France Travail, and have the difference financed by Unédic. And it is in this case that we will be concerned by the measures announced by Bruno Le Maire". In the meantime, Unédic anticipates revenues that are much lower than expected until 2027.