Unemployment: Bruno Le Maire wants to shorten the period of payment of compensation to those over 55 years old

Will the payment period for pensioners change? Economy Minister Bruno Le Maire this Thursday opened the door to reducing the duration of unemployment benefits for those over 55, to bring them in line with those of other unemployed people. According to the minister, this will be one of the measures that must be taken to achieve full employment.

In response to a question from Franceinfo this Thursday, the minister noted the compensation of “27 months” for those over 55 years of age, compared with “18 months” for younger unemployed people, which he said is a way to “retire earlier for those who are 55 years old.”

In his view, “unless we shake things up, the unemployment rate will not be 5%” at the end of the five-year period (compared to 7.4% today), a goal that represents full employment. According to him, “there is something wrong with the French social model” that does not allow this to be achieved. “One way is to employ older people,” he said.

Goal: 5% unemployment rate

“Will they cost less for those over 55? I see no reason to increase the compensation period, this is complete hypocrisy, a way to retire early,” he assured. He recalled that the employment rate of older people in France is “ten points” lower than the overall employment rate of 68%.

“The message I want to send them is we need you, we need your experience “- added Bruno Le Maire. He said he would “raise the debate” on reducing the duration of compensation for older people “with full determination to achieve an unemployment rate of 5%, which we have not achieved for half a century in France.”

An unemployment insurance agreement that could be improved

He also considered the agreement on unemployment insurance signed last week by the social partners to be “perfect,” especially for older people. He also criticized the financial measures included in the agreement, with “certain costs” such as contribution cuts offset by “unlikely savings.”

The agreement proposes, in particular, “saving on the creation of enterprises,” the minister noted, considering “the idea to be somewhat baroque, since we need to create enterprises, and an economy estimated at almost 900 million euros seems very unlikely to me.” “On the financial side, we can rightfully express doubts, I had the opportunity to explain this to the president of Medef,” the minister concluded.