Bloomberg News

French Jobless Claims Rise as Stalled Growth Prompts Staff Cuts

February 24, 2012

Feb. 24 (Bloomberg) -- French jobless claims jumped in January as concern about stalling economic growth prompted companies such as Alcaltel-Lucent and Peugeot Citroen SA to trim payrolls.

The number of people actively looking for work at the end of January rose by 13,400 to 2,861,700, the Labor Ministry said today in an e-mailed statement. That’s the highest total since October 1999. The ministry revised its series for last year, leaving claims at 2,848,300 at the end of December.

French growth slowed to 0.2 percent in the fourth quarter, defying forecasts that the country would tip into a recession as President Nicolas Sarkozy and other European leaders struggled to end Europe’s debt crisis.

--Editor: Jeffrey Donovan

To contact the reporter on this story: Mark Deen in Paris at markdeen@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net


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