Dhaka, Bangladesh
French unemployment at 10-year low

French unemployment at 10-year low

PARIS, May 18: French unemployment has fallen to its lowest level in 10 years, the national statistics agency said Thursday, providing a boost to under-fire President Emmanuel Macron, reports AFP. The rate fell to 8.7 percent in the first quarter of the year, down by 0.1 percent from the same period in 2018, and the lowest level since 2009, INSEE said. Macron, a pro-business centrist, has made cutting unemployment his main domestic priority and it has fallen gradually — but unspectacularly — since he took office in May 2017 when it stood at 9.4 percent. France has suffered from chronic high unemployment for decades and the jobless rate is still far higher than in Germany and Britain, Europe’s other two major economies. German unemployment hit its lowest rate since reunification in 1990 in April, with only 4.9 percent of the workforce looking for a job. British unemployment is at a 45-year low of 3.8 percent despite the economic turmoil created by Brexit. Domestic equity benchmarks BSE Sensex and NSE Nifty started on a tepid note Thursday tracking mixed cues from global markets amid sustained foreign fund outflows. The 30-share index was trading 8.25 points, or 0.02 per cent, higher at 37,123.13. The broader NSE Nifty was also trading 2.05 points, or 0.02 per cent, up at 11,159.05. In the previous session on Wednesday, the BSE bourse settled 203.65 points, or 0.55 per cent, lower at 37,114.88; and the Nifty shed 65.05 points, or 0.58 per cent, to settle at 11,157. Top gainers in the Sensex pack include Tata Motors, Vedanta, Infosys, Bajaj Finance, PowerGrid, Yes Bank, Axis Bank, Reliance Industries, ICICI bank, NTPC, Tata Steel, Hero MotoCorp, HUL, HCL Tech and Asian Paints, rising up to 3.39 per cent. On the other hand, Kotak Bank, M&M, L&T, IndusInd Bank, Coal India ITC and HDFC twins fell up to 0.71 per cent. According to traders, sustained foreign fund outflow kept weighing on investor sentiment here. Foreign institutional investors (FIIs) sold equity worth Rs 1,142.44 crore on Wednesday, while domestic institutional investors (DIIs) purchased shares to the tune of Rs 671.77 crore, provisional data available with stock exchanges showed. A mixed trend in global equities too kept market mood subdued on Dalal Street, traders said. Bourses in China, Japan and Korea were trading on a mixed note in their respective early sessions; while, Wall Street indices ended in the green on Wednesday. On the currency front, rupee appreciated marginally to 70.31 against the US dollar in early trade. Brent crude futures, the global oil benchmark, were trading 0.56 per cent higher at USD 72.17 per barrel.

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