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French Jobseekers Rise In November
Written by Saumyatanu   
Saturday, 25 December 2010 05:45

French Jobseekers Rise In November


12/24/2010 9:09 AM ET

(forexfounders News) - The number of registered job seekers in France rose 0.8%, or 21,300, month-on-month to to 2.7 million in November, data released by the country's Labor Ministry showed Friday. Compared to last year, the increase was 2%.

French jobless rate stayed at 9.7% in the third quarter, statistical office Insee said on December 2. It predicts the rate to ease to 9.5% by mid-2011.

In its latest outlook released on December 16, Insee said continuing poor labor market situation is likely to take its toll on wages. It said real wage growth would be small in mid-2011.

Insee said job creations in the non-agricultural market sector should come to around 51,000 in the second half of this year and 50,000 in the first half of 2011.

The French economy expanded 0.4% in the third quarter, with growth slowing from 0.7% in the second quarter. Insee forecasts the economy will probably grow 0.5% in the fourth quarter, taking the whole year growth rate to 1.6%.

by forexfounders Staff Writer