French Q2 unemployment rate 8.1 pct under revised methodology |
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Mon, 12 Nov 2007 12:22
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PARIS (Thomson Financial) - France's unemployment rate was 8.1 pct in the second quarter, as calculated using a new methodology unveiled by statistics office Insee.Under the new system, the annual unemployment rate for 2006 came to 8.8 pct, the same as in 2005 and 2004, Insee said.Including French overseas territories, the second quarter jobless rate was 8.4 pct.The new method of calculation is designed to harmonise French and European jobless figures.Amid controversy over the accuracy of French data, the publication of the headline rate for 2006 was postponed from March. A government-commissioned report in September then called for the monthly unemployment rate to be scrapped in favour of quarterly reports based on a more comprehensive survey.Insee is continuing to publish monthly unemployment figures based on jobless claims recorded by public employment service ANPE.Insee said the new method of calculation has reduced the headline jobless rate by an average of 0.7 points for past data.The jobless rate has fallen steadily since reaching 9.1 pct in the first quarter of 2006, Insee noted.tfn.paris@thomson.comgt/cmrCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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