Trésor-Economics No. 10 - Distinguishing cyclical from structural components in French unemployment
The French unemployment rate fall to 8.6% at the end of 2006, its lowest level since 1983. For the year as a whole, unemployment has declined by around 1 percentage point: can we put this fall entirely down to a good economic situation, or does it also reflect structural improvements in the labour market?To answer this question we need to distinguish between cyclical and structural components in t... Lire la suite