Applications for unemployment benefits in France declined in November

The applications for unemployment benefits in France declined in November for the third consecutive month. This is the longest series of decrease since the beginning of 2008, but the recovery comes too late to save the image of the Francois Hollande’s mandate. The number of French jobseekers decreased by 0.9% or 31,800 persons to 3.45 million people in November, according to the Ministry of Labour. The expectations of economists were for level of 3.48 million jobseekers. On a yearly basis, the unemployment rate was down by 3.4%.

The French Prime Minister Bernard Cazenevue said the results confirm that the government’s commitment for employment is bearing fruit.

The unemployment will be one of the main themes in the election campaign next year. The French economy shows signs of recovery, business confidence rises near its highest level in five years.

The high unemployment has gripped France since the global financial crisis of 2008/2009, defying the promise made in 2012 by Socialist President Francois Hollande that the trend would be reverse during his term. Instead, French joblessness reached new highs, including early this year.

The President Francois Hollande earlier said that the decline in unemployment will be a condition for his candidacy for a second term. On December 1, however, he said it will not participate in the elections and thus pave the way for Prime Minister Manu Waltz, who enjoys greater popularity.

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