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Financial News: France ILO Jobless Rate Drops Less Than Expected

France ILO Jobless Rate Drops Less Than Expected In Q4

02/16/2017 - 01:50:00 (RTTNews)

(RTTNews) - France's unemployment rate eased less-than-expected in the final three months of 2016, preliminary figures from the statistical office INSEE showed Thursday.

The ILO jobless rate dropped to 10 percent from a revised 10.1 percent in the third quarter. Economists had forecast 9.8 percent.

In metropolitan France, the number of unemployed decreased by 31,000 to 2.8 million people, resulting in a jobless rate of 9.7 percent versus 9.8 percent in the previous three months.

The youth jobless rate in the mainland, which applies to those in the 15-24 age group, fell to 23.3 percent from 25 percent.

The long-term unemployment rate declined 0.1 percentage points to 4.2 percent in the fourth quarter.

The employment rate rose to 64.7 percent in the fourth quarter from 64.6 percent in the previous three months.

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