French Job engine lacks fuel, posts lowest growth in four years


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French Job engine lacks fuel, posts lowest growth in four years

Amidst ongoing protest over the French President Emmanuel Macron’s economic policies, the job sectors in France had been hammering hard, since the French job engine is in a halt, which recently posted its lowest growth since 2015.

Citing statistics from the statistics office INSEE, “Institut national de la statistique et des études économiques”, National Statistics Bureau of France, headquartered in Paris, during the fourth quarter of 2018, the private sectors had created 16,200 new jobs, reporting a slight increase of 0.1 percent from a quarter earlier, which has been the lowest growth figure in French job market since the first quarter of 2015.

Although, the eurozone’s second largest economy’s president, Emmanuel Macron had promised an exhaustive mining of new jobs during taking the office in 2017, Macron’s attempts appeared to be pulled back since last Autumn upon exposure to violent protests, which initially introduced as a “Yellow Vest” protest to deduce taxes on energies such as oil.

However, the protest already went through initial phase and it is now sending a violent “knock-knock” to government’s entire plans of economic reform, which in turn has been hurting the French private job growth grievously.

Prefixing further penetrations, the French economy had recently started to show the signs of a global scale slowdown, which already triggered the Chinese government to introduce economic stimulus, meanwhile the France and Germany had been vying to overhaul the eurozone’s economic policy reform in order to grapple with the overwhelming pressures of a perturbing havoc-scale economic slowdown.