The Minister of the Economy believes that this measure would help achieve full employment in France. Bruno Le Maire said this Thursday that he was in favor of lowering the duration of unemployment compensation for those over 55 to align it with those of other unemployed people.
He noted on France Info compensation of “27 months” for those over 55, compared to “18 months” for younger unemployed people, a way according to him “to put those over 55 into early retirement” . For him, “if we don’t shake things up, there won’t be a 5% unemployment rate” at the end of the five-year term (compared to 7.4% today), an objective which represents full employment. “Something is wrong with the French social model” which prevents this from being achieved, according to him.
“A way to retire them”
“One of the ways is through the employment of seniors,” said the minister. “Would they be worth less, those over 55? I see no reason for there to be a longer period of compensation, it is total hypocrisy, a way of putting them into early retirement,” he assured.
He recalled that the employment rate of seniors was “ten points” lower in France than the general employment rate of 68%. “For me, the message that I want to send them is ‘we need you, we need your experience’,” added Bruno Le Maire. He said “to raise the debate” of a reduction in the duration of compensation for seniors “with the total determination to achieve this 5% unemployment rate which we have not reached for half a century in France” .
“Legitimate” doubts about the financial aspect
He also deemed the agreement on unemployment insurance signed last week by the social partners “perfectible”, particularly on this issue of seniors. He also criticized the financing measures which appear in the agreement, with “certain expenses”, such as reductions in contributions, compensated by “unlikely savings”.
The agreement proposes in particular “to make savings on the creation of businesses”, noted Bruno Le Maire, judging “the idea a bit baroque because we need to create businesses, and the economy estimated at almost of 900 million euros seems very improbable to me.” “On the financial side, we can legitimately express doubts, I had the opportunity to explain this with the president of Medef,” concluded the minister.