France has one of the largest economies in the world and the second largest in the EU. Manufacturing, financial services, banking, and insurance are all important sectors in the French economy, with some of the world’s leading multinationals based in the country. Educational attainment plays a decisive role when entering the labour market for the first time; the employment prospects of post-secondary and tertiary education graduates are markedly better than those of young people with lower levels of educational attainment.
Looking to the future, employment levels have already reached their pre-2008 financial crisis levels. Over the period to 2025, employment growth will be strongest in business and other services, with most job opportunities being for professionals.
In the period to 2025, France is forecast to experience an increase in demand for high- and low-skilled workers, whilst demand for medium-skilled workers will decrease. Meanwhile, the share of the labour force with high level qualifications is projected to increase over the period to 2025, whilst the share of workers with medium, low or no qualifications will fall concurrently.
France’s working-age population (15-64) is expected to grow in the period to 2025, with labour market participation set to remain at a lower level than the projected EU average. Looking to the longer-term future, France is expected to have a lower old-age dependency ratio than the EU28 average.