Down -0.7% from record level last month
The French jobless total fell by 23.8K in September. This was one of the biggest declines since the financial crisis. The total out of work fell to 3,547,800 which is down 0.7%. The drop is the largest since November 2007.
The number of jobless young people fell for the 4th month in a row.
A negative in the positive month report is some of the decline in the overall jobless total was as a result of some people losing the right to register as unemployed any more. Also, versus a year ago the number of jobless was up 3.1%. So there is further room for improvement.
The EURUSD is better bid after the report with the pair trading at new session highs and it nears the midpoint of the Friday move lower at 1.10675.
