This contribution explores the relationship between employment and migration in New Caledonia. This insular French economy in the Pacific offers a unique institutional status. Its origins reside in a complex historical combination of identity issues and the French juridical framework. This article takes place in a context of unprecedented migration deficit between 2014 and 2019, combined with an original and unique economic and above all institutional environment, that of the end of the Nouméa Accord. This has resulted in 3 referendums questioning the territory’s accession to full sovereignty. It is in this context that a migration deficit unobserved for four decades in the archipelago leads us to question the weight of the institutional and political context on demographic and economic dynamics, and on the employment situation of individuals. To do this, we describe the institutional originality enjoyed by New Caledonia since the Matignon-Oudinot agreements (1988) and the introduction of rebalancing public policies, such as job protection for New Caledonians. Then, using individual data from the population census, our results show that employment among New Caledonians remains less significant than for non-natives, regardless of the territory’s institutional and economic context. In addition to providing a contribution to research into the relationship between access to employment and the origin of individuals, this article highlights the ongoing necessity of policies to reduce inequalities. In a context of high political tension, high living costs and institutional uncertainty, it seems essential that investment in training local young people and in access to employment produce noticeable benefits.