French jobless total dips, setting stage for Hollande election bid
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
French President Francois Hollande delivers a speech on social contracts of employment at the end of the Conference on the social impact investment at the Ministry of Economy in Paris, France, November 24, 2016. REUTERS/Lionel Bonaventure/Pool
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
PARIS (Reuters) - France's jobless total eased back slightly in October to a two year low, Labour Ministry data showed on Thursday, giving support to President Francois Hollande's pledge to turn the labor market around.
With the latest fall in the jobless tally, Thursday's report sets the stage for Hollande to launch a bid for re-election ahead of a mid December deadline despite doubts in his own party about his chances of winning.
The deeply unpopular Socialist leader has said he would not run in next year's presidential election unless unemployment started falling convincingly.
The Labour Ministry said the number of people registered as unemployed in mainland France stood at 3,478,800, down 0.3 percent over a month and 2.8 percent over one year.
That brought the total to its lowest level since October 2014.
Hollande - whose popularity rating fell as low as 4 percent in one recent opinion poll - is expected to say near the end of the first week of December if he intends to seek another five-year term.
Just minutes before the release of the long anticipated data, Hollande told reporters: "We have fought this battle for several years, and it's now bearing fruit."
Despite a choppy but steady improvement in the jobless numbers in recent months, the jobless total stands 630,100 higher now than when Hollande took office in May 2012.
(Reporting by Leigh Thomas and Brian Love; Editing by Michel Rose)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Britain may continue with some EU cooperation post-Brexit: Johnson
- MH370 families want investigation to focus more on debris from plane
- Turkish authorities arrest four over fire that killed schoolgirls
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!