Life satisfaction ratings have ‘changed little’ since 2014, French statistics body Insee has noted, with the average life satisfaction rating for French people aged 16 and over standing at 7.2 out of 10 in 2023.
Life satisfaction is influenced by several factors, Insee noted, with higher satisfaction typically associated with better living standards and worse satisfaction linked to poorer health.
Young people more satisfied
‘Younger people, on average, trusted strangers less, but were more satisfied with their personal relationships,’ it said. ‘On the other hand, older people were more likely to feel alone and less likely to feel happy. On average, people living in couples were more satisfied with their lives than those living alone.’
Geographic location also plays a role in life satisfaction levels, with people living in the French overseas departments tending to report a lower life satisfaction compared to those in metropolitan France. Read more here.
Response to job loss
Elsewhere, Insee also undertook research to determine how French households respond to potential job losses.
According to its findings, when unemployment benefits run for at least six months, households begin to experience a significant decline in income, averaging a reduction of €630 per month, or a 31% drop compared to their previous earnings.
In response, many households either reduce their savings or dip into their existing reserves, it noted.
‘The longer the unemployment spell, the more households reduced their consumption and the less they drew down their savings,’ Insee said.
After six months, both consumption and savings decrease to similar levels, with consumption falling 15% below pre-unemployment levels, with Insee adding that the contraction in consumption is ‘particularly pronounced among households with limited liquid assets in their current accounts and savings books’. Read more here.
