Paris (AFP)

Job creations slowed in the second quarter in France, growing at a slower pace than in the first quarter, but they nevertheless remain on a positive long-term trend in a difficult European economic environment.

From April to June, the private sector registered 45,800 net job creations, an increase of 0.2%, after + 0.4% in the previous quarter, according to INSEE's final estimate. These creations are twice as low as those of the first quarter, which were particularly high with 100,400 jobs.

Over one year, however, private employment increased by more than 250,000 jobs (+ 1.1%).

"What matters is the long-term trend: every quarter, we create jobs, we've created half a million jobs over the past two years, and we're in a dynamic situation," said the Minister of Labor. Muriel Penicaud on RTL.

In total, salaried employment accounts for 19.6 million jobs and has been growing steadily since the second quarter of 2015.

"This is not a confirmation of the acceleration of the first quarter but it is not bad news either, we are on the average favorable trend we have been seeing since 2016," commented AFP Yannick L Horty, professor of economics at the University Paris-Est-Marne-la-Vallée.

"Given the modest level of growth (+ 0.3% in the second quarter), this pace remains satisfactory and illustrates the enrichment of French growth in jobs," he said.

Same sentiment of Philippe Waechter, director of economic research at Ostrum Asset Management.

"It slows down, but not so much that the European environment is frankly worrying, we have no break unlike Germany or the United Kingdom," he says.

Faced with the slowdown in activity in the euro area (+ 0.2% in the second quarter, with -0.1% in Germany), the French economy is resisting, driven by domestic demand greater than that of his neighbors. And the government still expects growth of 1.4% in 2019.

- "We still have it underfoot" -

By sector, the workforce remains stable in the industry (+1,400 after +7,900 in the 1st quarter) and creations slow down in construction (6,400 after +17,400).

It is still the market services that derive most of the employment, with an increase of 33,900, even if it is twice lower than in the first quarter and if the interim is slightly down (- 1,700). Accommodation and restaurants remain the most dynamic (+ 1.1%), as well as computer activities, according to data published Tuesday by the Central Agency of Social Security Organizations (Acoss).

More surprisingly, employment is experiencing a slight acceleration in the public service (+10,500).

"Overall, the situation remains robust, including in the industry, and reflects the perception by business leaders of a less fragile environment than our neighbors," said Waechter.

For Mr. L'Horty, this job creation figure also presents "a coherent evolution" with the slow but steady decline in unemployment.

Mrs. Pénicaud even thinks that "we still have it under foot because one company out of two says that it can not recruit". It is counting on the implementation of vocational training and apprenticeship reform to bring skills closer to business needs.

In the second quarter, the unemployment rate fell from 8.7 to 8.5 per cent according to the standards of the International Labor Office (ILO). It has returned to its level at the beginning of 2009 and has fallen by 0.6 point over one year.

Asked Sunday on the government's goal of an unemployment rate of 7% in 2022, Ms. Pénicaud had estimated that "this order of magnitude is possible if there is no macroeconomic change, global geopolitics that would damage growth ", referring to the risk of" trade war "and in particular the tensions between the United States and China.

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© 2019 AFP