FX.co ★ France Private Payrolls Employment Down 0.1% in Q1

In the first quarter of 2025, payroll employment within France's private sector saw a slight decrease of 0.1%, resulting in a reduction of 28,700 jobs, bringing the total to a two-year low of 20.98 million. This outcome defied initial forecasts, which anticipated stable employment figures. It follows a revised 0.4% decline from the previous quarter, marking a loss of 81,200 positions. Job reductions were noted across various sectors, including agriculture (a decrease of 3,200 jobs), construction (a loss of 10,300 jobs), industry (down by 2,500 jobs), and the commercial tertiary sector (shedding 27,200 jobs). Conversely, the non-commercial tertiary sector experienced growth, adding 14,600 jobs. When compared to the first quarter of 2024, private sector employment experienced a 0.6% drop, equivalent to 123,300 fewer jobs. Nonetheless, it remained 5.2% higher than its pre-pandemic level, reflecting a net gain of 1.0 million jobs.