Paris, September 18 (RHC)-- A new analysis has shown that long-term job stability is further declining in France as companies are not willing to hire for the long run and are increasingly turning to temporary and contract workforces.

According to the study carried out by the French National Institute for Statistics and Economic Research (INSEE), French employers use five times as many short-term contracts and agency workers than they did in 1982.

Moreover, the rate of job insecurity multiplied five times between 1982 and 2011, as French companies took on or fired 38 people per 100 employees in 1982, while the figure soared to 177 per 100 in 2011.

The study further found that short-term contracts now make up 13 percent of the workforce in France compared to five percent in 1982. While only a fifth of those on short-term contracts would likely have a full-time job the following year these days, half of contract workers in the early 80s could invest in long-term employment.

The study also showed that those under the age of 25, especially if they are poorly qualified, and those over 55, particularly if they are jobless, are the least likely to find full-time employment in France.

France's newly appointed Economy Minister Emmanuel Macron recently said the country is "sick," urging immediate reforms to tackle record high unemployment rates, ballooning public deficit and a stagnant economy.

The Eurozone's second-largest economy is struggling with an unemployment rate of over 10 percent and its economy has failed to grow in the past two quarters.

France also strives to reduce its public deficit, which is expected this year to be 4.4 percent of its gross domestic product (GDP) and will only fall slightly next year to 4.3 percent in 2015.