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Appreciation of French households unchanged in November

Xinhua, November 25, 2015 Adjust font size:

Households appreciation of their financial and economic situations was stable at the end of November with the index standing at 96, French national Institute Insee figures showed on Wednesday.

In its monthly economic report, Insee said consumers sentiment about their future financial situation lost one point while their confidence of their past situation was unchanged at minus 24.

The two indexes "are below their long-term average," it added.

Looking to their economic situation, households expressed optimism about their past standards of living whose indicators gained one point while they have the same sentiment about their future situation compared to October data.

Worries about a lasting depressed labor market fell sharply. Most French families expected a decrease in unemployment with the indicator dropping by 24 points to 36, the lowest level since June 2011, according to Insee.

In order to digest millions of job demands in a country with a population of 66 million, France, Europe's second largest economy, offered companies 30 billion-euro-cut (31.8 billion U.S. dollars) in labor charges to encourage recruitment and investment and pumped more billions of euros in "future contracts" aimed at hiring poorly-qualified young unemployed people.

The study was a result of a survey conducted between Oct. 28 to Nov. 17 by Insee. (1 euro = 1.06 U.S. dollars) Endit