The region heals its wounds between two waves

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How has the regional economy recovered after the economic shocks of the first half of 2020, which were marked by the first restraint, which was most drastic since the beginning of the health crisis? The new economic report published by Insee Auvergne-Rhône-Alpes on December 12th describes an inventory based on a study entitled 'A fragile economy at the beginning of the second wave'.

'After the regional activities were badly affected during the first delivery, they healed part of their wounds in the summer, on the eve of the second wave of the health crisis,' the statisticians said with supportive figures.

Employees: Haute-Savoie, Allier and Ain on the podium

Employment in the Auvergne-Rhône-Alpes regained strength in the third quarter of 2020 with an increase of 1.7{7d3485657e94c2a51293ca186d4450b2f27c317aa7ee3509dac6c8bbf5461118} after a decrease of half a year. The recovery can be felt in all departments, but especially in Haute-Savoie (+ 2.2{7d3485657e94c2a51293ca186d4450b2f27c317aa7ee3509dac6c8bbf5461118}), Allier (+ 2.0{7d3485657e94c2a51293ca186d4450b2f27c317aa7ee3509dac6c8bbf5461118}) and Ain (+ 1.8{7d3485657e94c2a51293ca186d4450b2f27c317aa7ee3509dac6c8bbf5461118}). Wage employment is back above the three million threshold, an increase that is still insufficient to return to pre-crisis levels. 'The region is coping better with the effects of the health crisis than France,' INSEE said.

Unemployment remained below 8{7d3485657e94c2a51293ca186d4450b2f27c317aa7ee3509dac6c8bbf5461118}.

The observation is confirmed on the employment side: Auvergne-Rhône-Alpes is one of the four regions where the unemployment rate is below 8{7d3485657e94c2a51293ca186d4450b2f27c317aa7ee3509dac6c8bbf5461118} in the third quarter of 2020, even if it is necessarily influenced by the economic situation, the decline of the trompe loeil (dies did not reflect an improvement in the labor market, but an effect of the containment of the unemployed) in the first two quarters of the year, the unemployment rate in the region is 7.9{7d3485657e94c2a51293ca186d4450b2f27c317aa7ee3509dac6c8bbf5461118} of the labor force at the end of September 2020. 'Compared to the end of 2019 before the health crisis, this means one Increase of 0.9 points, a development similar to that in France (excluding Mayotte), 'says INSEE. Compared to the end of 2019, the Haute-Loire limits the increase to 0.7 points. In contrast, Haute-Savoie and Ain recorded increases of 1.3 points and 1.0 points, respectively.

Business start-ups break records

In the Auvergne-Rhône-Alpes, business creation has been booming since June and reached an unprecedented level, particularly in September and October, with more than 10,000 monthly registrations. Cumulative from January to November, the region totaled 94,200 creations in 2020, which corresponds to an increase of 2.9{7d3485657e94c2a51293ca186d4450b2f27c317aa7ee3509dac6c8bbf5461118} compared to the record year 2019 despite the first restriction. Business start-ups are concentrated in the Rhône, Isère and Haute-Savoie departments, which account for more than half of the regional total. However, from January to November the Rhône recorded a decrease of 1.7{7d3485657e94c2a51293ca186d4450b2f27c317aa7ee3509dac6c8bbf5461118} compared to the previous year. All other departments such as Puy-de-Dôme (+ 8.8{7d3485657e94c2a51293ca186d4450b2f27c317aa7ee3509dac6c8bbf5461118}), Haute-Savoie (+ 8.2{7d3485657e94c2a51293ca186d4450b2f27c317aa7ee3509dac6c8bbf5461118}) or Loire (+ 7.2{7d3485657e94c2a51293ca186d4450b2f27c317aa7ee3509dac6c8bbf5461118}) are on the rise. .

It remains to be seen how the region has absorbed the new restrictions introduced from November, although the second lockdown is likely to be less damaging to economic activity than the first.