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Business

Huge French job losses in first quarter

©

Text by NEWS WIRES

Latest update : 2009-06-11

The continuing economic crisis ensured a further 187,800 French job losses in the first quarter of this year, a figure twice as high as for the whole of 2008, according to French statistics institute INSEE. Unemployment now stands at 8.7 percent.

AFP - The economic downturn destroyed 187,800 French jobs in the first quarter this year, with temporary workers hardest hit, according to figures from the official statistics agency.

With one percent of all jobs scrapped across the entire private sector -- excluding agriculture -- the tally of job destructions was twice as high as for the whole of 2008, INSEE found.

Temporary workers, already hard-hit by the downturn throughout 2008, are continuing to feel the full impact of recession, accounting for 80,800 of the jobs destroyed between January and March.

France's unemployment rate jumped in the first quarter by 1.1 percentage points, the biggest increase since 1975, to 8.7 percent of the workforce, and the government warns it will continue to rise for several quarters.

Economy Minister Christine Lagarde warned Monday that the French economy was likely to contract by 3.0 percent this year.
 

Date created : 2009-06-11

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