Brittany Faces Economic Slowdown as Employment Concerns Rise
Brittany's economic slowdown poses significant employment challenges for 2025.
Key Points
- • Brittany's employment growth dropped to +0.3% in 2024 from +1.3% in 2023.
- • Job seekers increased by 5.5% in early 2025 despite a stable unemployment rate of 6%.
- • Tourism saw a 6.3% decline in early 2025, worsening from a 5% drop in 2024.
- • Brittany's trade deficit improved substantially from €2.3 billion to €1.6 billion.
Brittany is experiencing a significant economic slowdown in 2024 and early 2025, as highlighted by the latest analyses from Insee Bretagne. Following a promising growth rate of 1.3% in 2023, the region's employment growth has plummeted to just +0.3% in 2024, with stagnation reported for the first half of 2025. The unemployment rate holds steady at 6%, yet job seekers without jobs have surged by 5.5%, indicating deeper economic challenges.
The construction industry remains under pressure, despite a 22.1% spike in building permits at the beginning of 2025. Meanwhile, the tourism sector experienced a substantial decrease in collective accommodation occupancy, witnessing a 5% drop in 2024, worsening to a 6.3% decline in early 2025. Business creation has similarly declined, seeing a 1.9% reduction attributed to rising living costs and inflation.
Despite these challenges, Brittany's trade deficit has reduced from €2.3 billion to €1.6 billion, buoyed by unexpectedly strong export performance. Additionally, the region's renewable energy production has climbed to 31% of its total consumption. These mixed signals suggest that while certain sectors struggle, improvements in trade and energy may offer some respite.
In conclusion, Brittany is entering a critical phase of economic uncertainty, with traditional engines of growth faltering, prompting officials to reconsider its economic strategies as 2025 unfolds.