Unemployment fell to 11-year low in France

French unemployment fell unexpectedly at the end of last year to an 11-year low, official data showed today.

The unemployment rate fell to 8.1% in the final three months of last year from 8.5% in the third quarter, which was revised down from an initial reading of 8.6%, the INSEE statistics agency said.

The result brought the jobless rate to its lowest level since the fourth quarter of 2008, Reuters reported.

The big drop will be a welcome development for French President Emmanuel Macron after weeks of strikes as trade unions put up fierce resistance to his planned overhaul of the state pension system.