Job creation in France continued in Q2, with 24,100 additional posts (+ 0.2%) in the market sector, barely restrained by the halt of growth.
in one year, the French economy has created, net, 143.300 new jobs (+ 0.9%), for a total of 16.04 million, a level unprecedented since early 2012, according to an estimate by Insee published Friday. This indicator is mainly the salaried positions non-agricultural private sector.
“For the fifth consecutive quarter, our economy has created salaried jobs merchants”, welcomed the Minister of Labour, Myriam El Khomri, in a tweet. The dynamic is however weaker than in previous quarters, when about 40,000 jobs were created on average.
From April to June, only the services have created jobs (37,800 excluding temporary +0, 3%). The sector, main locomotive in private employment, has increased steadily since the end of 2014.
These creations than offset further destruction in industry (9700, -0.3%) and construction (3500, -0.3%), lasting two affected areas. Factories have lost nearly a million jobs since the second quarter of 2001, the yards around 200,000 since late 2008.
As for temporary employment, which peaked late 2015, s ‘fell slightly in the quarter, with 500 jobs lost (-0.1%). He had already destroyed 1,000 in Q1. The interim nevertheless remains largely in the green on year, with 35,500 additional posts (+ 6.5%).
Over the past year, the tertiary excluding temporary positions increased by 155,100 (+ 1.4%), while industry and construction have respectively lost 33,900 (-1.1%) and 13,400 (-1.0%)
-. Get in the interim –
the positive employment figures for the quarter are against the current of other economic indicators: growth has experienced a setback (+ 0%), hirings fell (-2, 2%) and falling unemployment paused (-0.2% after -1.4% in the first quarter).
There is nothing illogical, however, as employment usually reacts to growth with a delay of several quarters.
second quarter employment creation is, moreover, consistent with the latest forecasts from INSEE published in mid-June, which had forecast 28,000. Final figures will be published on 8 September.
However, the decline in temporary employment over the first half of 2016 can be interpreted as a warning signal, as this area is known precursor of developments of employment.
But according to economists, the pause recorded by many indicators in the second quarter is only an “adjustment”, a “movement patch” after an exceptional first quarter. The Bank of France also provides for a 0.3% rebound in growth in the third quarter.
The National Statistics Institute was waiting in its June forecast, a further acceleration of creations jobs in the second half, supposed to allow a significant decline in unemployment to 9.5% end of 2016 in France, against 9.9% earlier this year.
such a scenario would make the business of François Hollande which has conditioned a decrease “credible” unemployment in 2016 his possible candidacy for a second term. The president must announce its decision at the end of the year
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