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France unemployment falls to 13-year low of 7.4% in fourth quarter -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – Job seekers in protective masks visit the office of the National Agency for Employment in Nice (Pole Emploi), after France has reopened their agencies following the spread of coronavirus (COVID-19) in France on May 18, 2020. REUTERS/

PARIS (Reuters) – France’s unemployment rate dropped in the last quarter to its lowest point since 2008. Official data was released Friday. This boosted Emmanuel Macron’s economic credibility less than two months before a presidential election.

The INSEE statistics agency reported that the unemployment rate dropped to 7.4%, from 8.0% during the preceding three months. Eight economists polled by Reuters predicted an average of 7.8% in a survey.

This was the lowest unemployment rate since 2008’s third quarter, with one exception: an artificial fall at the beginning of the pandemic.

Macron, widely expected to run for a second term of five years in the April election, is entered the polls with the best economic record in history.

Last year’s 7% increase was enough to make the European Union the second-largest economy. This doubled the growth rate in the past five decades and will boost the labour market in 2021 as businesses struggle to meet client demand.

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