French firms cut fewer jobs than previously thought in the fourth quarter of 2009, according to figures published yesterday, but not enough to erase concerns over the labour market in the months ahead.
The number of jobs shed in the non-farm sector was revised to 20,400, representing a quarterly decline of 0.1 per cent instead of the 0.4 per cent quarter-on-quarter fall originally reported.
Nearly 80,000 non-farm sector jobs were lost in the third quarter of last year.
Economy minister Christine Lagarde said the slowdown in job losses boded well for the rest of the year. “This evolution confirms that the labour market is in the process of stabilising, something that should continue in 2010.”
Some analysts suggested that the performance of France’s labour market in the fourth quarter was not as rosy as hoped, given that the economy grew 0.6 per cent between October and December. – (Reuters)
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