According to the provisional estimates released by INSEE on Friday, the number of private salaried employment increased by 0.5% again in the third quarter, creating 96,100 net jobs. According to data from the National Bureau of Statistics and the Economic Research Institute, this is the third consecutive quarter of growth following the +0.8% and +1.4% (that is, +153,800 and +265,100 jobs) in the first and second quarters of 2021. Overall, by the end of September 2021, the number of private paid employment is 0.9% (185,600 jobs) higher than the level before the pandemic (ie, at the end of 2019). This preliminary estimate is higher than the INSEE forecast in early October (+ 0.3%).
Temporary employment is the compass of the labor market and continues to recover: +1.4% after +2.4% in the second quarter, +0.7% in the first quarter (ie +17,900 after +11,200 and +5,200 jobs). Nevertheless, it is still slightly lower than the pre-crisis level, at the end of September it was 1% lower than the level at the end of 2019, and 7,800 jobs were lost. Excluding temporary jobs, private salaried employment increased by 0.4% (+85,000 jobs) in the third quarter of 2021. Except for industry, all sectors exceeded their pre-crisis levels.
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Industrial employment decline
Despite a slight increase in the third quarter (+0.1%, the same as in the second quarter, after a 0.2% increase in the first quarter), the number of industrial employment at the end of September was still far below the level at the end of 2019: -1.4%, which is- 45,100 jobs. In the business services sector that does not include temporary jobs, private salaried employment is slowing after an abnormal increase in the previous quarter: +2.0% after an increase of 0.7% (+228,800 jobs after an increase of 86,400). The industry, marked by health restrictions since March 2020, has fallen by 2.4% (i.e. -287,500 jobs) throughout 2020. By the end of September 2021, employment in this industry was 1.0% higher than the level at the end of 2019 (+117,900 jobs).
In the construction industry, after five consecutive quarters of growth in private paid employment (excluding temporary jobs), it almost stabilized in the third quarter of 2021 (-0.1% or -1,900 jobs). These increases allowed the industry to return to pre-pandemic levels in June 2020, and then substantially exceed that level: by the end of September 2021, the number of privately paid employment in the construction industry was 4.4% higher than the level at the end of 2019 (+ 62,700 jobs). Similarly, in the third quarter of 2021, private salaried employment in the non-market tertiary industry stabilized after four consecutive quarters of growth: a year from mid-2020 to mid-2021, an increase of +3.5% (+86,600 net employment position). It is 2.4% higher than the level at the end of 2019 (+58,900).
(AFP)