Reflection on Macroeconomics and Unemployment in France

Running Head: REFLECTION 0
MACROECONOMICS

REFLECTION 1
Macroeconomics supports in understanding the working of a multifaceted
contemporary economic system and in achieving the goal of economic growth. A well
knowledge of the macroeconomics of the nations helps in developing adequate economic
plans in coordination with global economic measures (Hanushek, 2013). It also helps in
solving economic problems proactively such as unemployment, inflation, trade cycle and
stagflation. In addition, these issues can be resolved at macro level only.
As the selected country is France, unemployment is identified as one of the major
macroeconomic problems in the country. There is a lack of progress and the unemployment is
high inclusive of weak government finances. As per the reports, around three million people
are unemployed representing 10.2% of the workforce. Based on data of second quarter of
2018, the rate of unemployment in France was 9.1 (tradingeconomics.com, 2019) and the
data of unemployment rate of France is shown below –
French Q1 Jobless Rate Falls to a Decade Low of 8.7%
Source: (tradingeconomics.com, 2019)
The France government is taking out various measures to solve these issues. For
instance, they are trying strong with their major policy move relating to giving flexibility to
labour laws as that makes it flexible to recruit and terminate employees, somewhat long
required by various France employers. Other than this, the government is also trying to
decrease number of short-term contract by talking with trade unions as it has been exploded
past 20 years thelocal.fr. (2019). However, such agendas not helping the country very well in
solving the employment issue. It is important for France to move with one effective policy
action to solve this macroeconomic problem at an earlier stage.