French unemployment rate drops first time in two years

Discussion in 'Economics' started by ASusilovic, Sep 2, 2010.

  1. Sept. 2 (Bloomberg) -- France’s unemployment rate fell for the first time in two years in the second quarter as companies began hiring again after the worst recession since World War II.

    The jobless rate dropped to 9.7 percent from 9.9 percent in the three months through March, Paris-based statistics office Insee said today. Economists expected a rate of 10 percent, a Bloomberg survey of seven forecasts showed.

    With economic growth picking up, companies such as cosmetics maker L’Oreal SA, BNP Paribas SA and computer consultant Cap Gemini have said they are taking on staff. That help jobless claims decline in both June and July after reaching a five-year high of 2.7 million.