Unemployment, Purchasing Power, Debt: 8 in 10 French People Fear the Worst

Is France about to lose its status as a wealthy country? Only a few joyous leaders, perched on their mountain of optimism, seem to believe so. However, the morale of the French is collapsing, and the economy is following suit. Inflation, industrial decline, and abyssal debts feed a galloping pessimism. And it’s not the 2025 budget that reassures the crowds. Let’s dive into the depressing atmosphere that motivates the Hexagon.

2025 Budget: an ineffective placebo for the economy

Despite the vote on the 2025 budget, the economy in France continues to give cold sweats to 85% of the French. In October 2024, 86% were already seeing the glass half empty. A very nice consistency in disaster.

If 61% of respondents are worried about their own wallets, 70% fear a surge in unemployment. The purchasing power remains an obsession: prices, wages, and taxes account for 46% of concerns.

The worst part is that this pessimism is evenly spread across social classes, generations, and political orientations. Even the most optimistic struggle to see a clear horizon.

And with public debt reaching 3,300 billion euros, or 118% of GDP, it’s hard to hope for an improvement without a budgetary miracle. Add to that production taxes that are twice as high as those of our neighbors and a bureaucracy that stifles any initiative with its 400,000 regulations, and you have a foolproof recipe for an economy in Titanic mode.

The French between gloom and anger

Why so much pessimism among the French? Simple: they feel like they are witnessing an economic shipwreck live. 66,420 businesses shut down in 2024, resulting in 260,000 job losses.

Even if some politicians try to stay positive, the reality tells a different story: declining purchasing power, growing inequalities, and a social system in apnea.

Some figures to illustrate the ambient distress:

• 70% of the French consider the country’s future bleak;
• 76% believe that public debt will worsen;
• Only 6% believe in economic improvement;
• 74% are worried about purchasing power developments;
• 39% consider the future of the social system as their priority.

Yet, a paradox exists: 78% of the French claim to be happy. Go figure… Maybe economic pessimism doesn’t prevent one from enjoying a good chocolate croissant on a terrace.

Michel Serres succinctly summarized the problem:

“What’s the point of being this pessimistic? Nothing, except to despair people.”

France facing its decline

The numbers are clear: France is sinking into decline. It’s not Eric Ciotti who would say otherwise:

“3,300 billion euros of debt, soaring interest rates, thousands of businesses liquidated.”

However, solutions exist. The economy rests on two pillars: a strong industry and renewed national pride. But for that, France would need a real recovery strategy.

Public procurement could play a central role in boosting employment and supporting local businesses. By promoting innovation and domestic production, the Hexagon could regain its economic dynamism.

The idea is not to curl up on oneself, but to ensure industrial and strategic sovereignty. Full employment, reindustrialization, and training are as many levers that could help turn the tide. The political will must follow.

As a cherry on top, France continues to ignore bitcoin to the point of ridiculing itself even more. While other nations, like Trump’s United States, are betting on BTC as a strategic reserve, France prefers to get bogged down in its bureaucratic debates. A missed opportunity that could be costly in the long run.