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France / Hollande Jobs Pledge Undermined

The French economy grew less than initially reported in the third quarter, signaling a recovery that may be too weak to help President Francois Hollande’s government reduce unemployment that’s at a 15-year high.

Gross domestic product rose 0.1 percent, half the pace estimated on Nov. 15, statistics institute Insee in Paris said today. Data late yesterday showed jobless claims rose for a 19th straight month in November to 3.13 million, the highest since January 1998.

“Given the poor outlook for France’s growth in the coming months, it is difficult to see an improvement in labor-market data anytime soon,” Thomas Costerg, an economist at Standard Chartered Bank in London, said in an e-mail. “For the moment, the only direction for France’s unemployment rate is up.”

Choosen excerpts by Job Market Monitor from

Bloomberg

via Hollande Jobs Pledge Undermined by Weak French Recovery: Economy – Bloomberg.

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Discussion

2 thoughts on “France / Hollande Jobs Pledge Undermined

  1. Magnificent site. A lot of useful info here. I am sending it to some friends ans also sharing in delicious. And obviously, thanks for your sweat!

    Posted by my blog | December 31, 2012, 11:10 am

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