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Employment in the United States has seen a leap in March. Jobs created were $ 216,000 over the month, after 192,000 in February and 68,000 in January. Economists were divided, but the Labor Department figure exceeds the consensus, which expected a slight decline in job creation, to 190,000. The U.S. economy is "showing signs of real strength," responded the president Barack Obama.

"These are the best figures recorded since May 2010 when the massive recruitment for the census of the population had inflated statistics, notes Jean-Marc Lucas, an economist at BNP Paribas.Despite disappointing figures in January, average monthly job creation reached 159,000 since the beginning of the year, which portends a slight decrease in the number of unemployed. "

The smallest job losses in public administration (14,000 in March after 46 000 in February) have enabled the U.S. economy to show a figure better than the previous month. Job creation alone business, in fact, were slightly less active this month (230,000 against 240,000) low fee payday loans.

The unemployment rate drops to 8.8%

Among the fastest growing sectors are business services (78,000, but 29,000 in contracts for temporary services) and health (37,000). The industry continues to hire (17 000), as well as the mining sector (14 000).

The unemployment rate, calculated on a different basis, for its part, declined to 8.8% against 8.9% in February.The share of long-term unemployed (more than 27 weeks without a job) has continued to increase, to 45.5% in March, against 43.9% in February. "This stability reflects the persistent deflationary pressures from the labor market," Inna Mufteeva analysis, an economist at Natixis. The Fed should not change its policy of monetary expansion.

Job creation in recent months have not yet allowed to catch up the destruction suffered during the crisis. (Source: Société Générale CIB)

Earlier this year, the head of state went to Mayotte in anticipation of the creation of the 101st French department. For the 186,000 inhabitants of the island, the promise became a reality this Thursday, March 31.

If 2010 has prepared the process of departmentalization, Mayotte has a long way to go. The economic and social challenges are enormous. Economic First, because the island is in a difficult situation. The written conditions of the Institut d'émission des overseas (IEDOM, relay Overseas Bank of France), published recently, last year was particularly weak in all sectors (including agriculture, construction, trade). The labor market continued to deteriorate, consumption fell, as imports.In short, Mayotte had a year 2010 "morose" and, apart from a little less poor prospects in tourism, "in 2011 gave no indication of genuine improvement", said the new director of the IEDOM, Nicolas de Seze.

Development Fund

Social challenges then, as the island is facing significant migration flows. The proportion of foreigners, mostly from other islands of the Comoros – who come to find work, join relatives, to qualify for the schooling of their children or for treatment – from 15% in the early 1990s to nearly 41% in 2007, fell within the central bank in a previous study savings account payday advance.The vast majority would be illegal.

The cost of illegal immigration has been estimated in a Senate report from 2008 to 32.4 million euros for national education and 30 million for health services – more than 3.3 million on the fight against this immigration (police, gendarmerie …). Excluding the cost of moonlighting.

New French department, Mayotte "will benefit from development funds relatively large," recalls Will there be IEDOM. Another issue will then arise: "The ability to use knowledge. The real problem is there. We need a real project management for projects, it will take time. "There must then be the private sector take over public investment. Not a small feat in a country where, today, produce is more expensive than importing "…

"Participation is beyond anything we dreamed. It's fantastic. It is the largest event in a generation in London, "enthused the general secretary of Unite union, Len McCluskey. "There is a palpable anger in this country and hundreds of thousands of people came here to say overnight pay day loans. According to police, there would be almost half a million people, "he said.

Protesters across the Waterloo Bridge. Photo credits: Paul Hackett / Reuters

The final agreement on supplementary pensions Arrco (all private sector employees) and Agirc (frames) had been signed by all unions, CGT except in 2009. Certainty, after the last negotiation, yesterday, lasted a dozen hours: the new rules proposed by the employers do not collect the same consensus. The conditions under which they come into force (at least one signature of association and not more than three opponents) are nevertheless likely to be met. In extremis.

CFDT – even if it has refrained from announcing a decision before submitting the text in its internal bodies – proves rather part but would prefer to avoid signing one. She appreciates such as FP, the draft agreement ensures the continuation of the supplemental until late 2018 – the renewals do not exceed two years of habit.In addition, new integrated text yesterday to wipe out a ten billion in savings over twenty years, he proposed a week ago! The deficit-Agirc Arrco accumulated from 2011 to 2030, should reach 117 billion euros without pension reform. With the decline of legal age to 62 years and the full rate at age 67, the "hole" is reduced to 43.6 billion. The application for the proposed project would result yesterday substantially the same result.

Consequently, the reserves will be consumed by 2030. Hence the requirement of most unions to raise contributions. "It was our only prerequisite," said the CFTC, while acknowledging having obtained satisfaction on the part supplements for children. The employers did not want to hear about it, he stood, agreeing just in the final stretch to consider "potential resources" extra … 2015, when accounts very degraded."Laurence Parisot spends his time asking the government not to raise premiums, it can not sign herself up, decrypts a union negotiator. The chamber knows that, once the accounts will not be balanced unless the legal age is raised again in 2018, after the current reform. It is his bet. " A framework was actually the employers' organization that reasoning to hint, a few days ago …

The CFE-CGC unions among the most virulent. The union accuses the executives of employers … CFDT and their "egalitarianism obessionnel" about the alignment of returns between managers and non-managers (see below). CFDT contends that it is not "defend a union or institution" (understood the CFE-CGC and Agirc) "but the employees."She chose to stop for four years, erosion yields.

Unsurprisingly, the CGT will not sign "probably not". "Unfunded commitments, these are promises that will not be required," warned the union, whose leader does not play to his right to object.

The verdict likely Unions

CFDT will sign

FOR: Signature or forbearance

CFTC: Forbearance

CFE-CGC: opposition or abstention

CGT: opposition or abstention

The French will not endure forever rising fuel prices, without changing their consumption habits. According to an Ifop poll published Sunday in the South West, 47% of respondents intend to reduce their consumption now if gasoline prices continue to climb.

Consequence of the soaring price of oil, those fuel have reached record highs last week. A liter of unleaded 95 has sold 1.50 euros on average in the hexagon, and a liter of diesel 1.54 euros, said earlier this week the Directorate General for Energy and Climate (DGEC ). Some stations even offered Paris a liter of unleaded fuel to 1.8 euro.

If consumers incorporate more and more since 2005, the idea of ​​an inexorable rise in fuel prices, 1.5 euro per liter of diesel remains for many a symbolic threshold beyond which they consume as much. Only 15% of respondents put this threshold at a level greater than 1.5 euro per liter, said the survey. Jean-Louis Schilansky, president of the French Union of Petroleum Industries (Ufip), makes the same observation. He recalled that in 2008 when fuel prices had also risen sharply, the consomamation was down 3% once this threshold is crossed guaranteed fast personal loans.

Not lower taxes

The decision to reduce its consumption or not, however, depends partly on the level of life. 40% of workers have thus been limited.In contrast, managers and professionals are more likely (14%) than average (11%) said they will not alter their habits, whatever the price of a liter. For many, the level of fuel consumption is also strongly constrained by the lifestyle.

Faced with soaring prices, the government this week but ruled out any cut in gasoline taxes could reduce the transport budget of the French. "You can take steps this guy at a time when we must take into public finances," ruled the Economy Minister Christine Lagarde. It was therefore confined to advise the French to buy the morning and follow rules of conduct to reduce, even at the margin, the price at the pump.

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The markets decide on Thursday to follow the trend on Wall Street yesterday or the Asian markets this morning. Disturbed yesterday by a further rise in oil prices, the Paris Bourse tries the rebound: the CAC 40 gained 0.54% to 4057.91 points.

The DAX index of the Frankfurt Stock Exchange following the same path with an increase of 0.61% to 7225.23 points. Just as the London Stock Exchange takes 0.34% to 5935.11 points.

However, investors should be wary. The barrel was still an upward trend on Thursday in electronic trading in Asia with a barrel of light sweet crude for April delivery at 102.47 dollars a barrel of Brent North Sea to 116.70 dollars. The situation in Libya, which explains the spike in oil shows no sign of improvement.Worse, the country's leader, Muammar Gaddafi, said yesterday in a speech delivered on television, there would be "thousands of deaths" in case of foreign military intervention in his country.

In Europe, attention will focus on the ECB meeting, which will decide on interest rates from 13.45. A hardening of tone is expected this Thursday, but not to the point of a rate hike is imminent. Inflation reached 2.4% in February in the eurozone, a figure higher than the target of 2% of the European Central Bank, growth was also up, despite the debt crisis, to 1.6% in 2011, according to Brussels.

As for currencies, the euro remains under pressure, but stable against the greenback to 1.3864 dollars in morning trading.Stack on a very important technical resistance

Battery Statistics

In this context, markets will try to focus on the series of macroeconomic statistics to be published Thursday. In France, the unemployment rate fell slightly in the fourth quarter of 2010 to 9.2% of the workforce in France and 9.6% including overseas departments, a decrease of 0.1 points per quarter previous INSEE announced Thursday.

For the euro area, the news will also be very rich at 11 am with the area GDP in the fourth quarter and retail sales in January.

The day will also be busy with the U.S. productivity in the fourth quarter and weekly jobless claims (1430) and the ISM Services February (16 hours).Attention should also dominate the market before the publication of the traditional monthly report on U.S. employment on Friday.

Values to follow

Alcatel-Lucent (5.56% to 3.80 euros) is supported by the recovery of target price of Barclays. The sign as the largest increase of the SBF 120 in early trade.

Renault: 0.39% to 42.91 euros

The manufacturer does not manipulation in the case of alleged espionage whose company reported but awaits the return of investigations into the existence of bank accounts abroad to decide.

Total: +0.36% at 43.51 euros

The petroleum announced Wednesday it will pay $ 4 billion (2.9 billion euros) to take a 12% stake in Russian gas producer Novatek.

In addition, the group will soon stop operating Mabrouk field, whose production capacity is between 40,000 and 50,000 barrels per day. Muammar Gaddafi confirms that oil production in his country was "at the bottom."

Alstom: 0.43% to 41.62 euros

The group announced Wednesday the signing of an agreement for its participation in the development of a technology center in SKOLKOVO Russia.

Unibail Rodamco: +0.03% to 145.35 euros

Europe's leading retail real estate announced Wednesday it had acquired from Eurohypo AG a stake of 7.25% in SFL (FSH) for 106.5 million euros.

France Telecom: 0.63% to 15.77 euros Iliad: 4.66% to 84.60 euros

Free and Orange signed a roaming agreement 2G to 3G expanded. The announcement had been evoked by the daily newspaper Les Echos on Thursday.

Air France-KLM: 0.98% to 11.81 euros

The company plans to reorganize in order to make acquisitions, "said La Tribune.

GDF Suez revises goals upward

GDF Suez: -0.64% to 28.03 euros

The band recorded in 2010 net income group share of EUR 4.616 billion (+3.1%), especially through its activities in France, and has revised upwards its targets for 2011 due to taking control of Britain's International Power.

Carrefour: -0.28% to 33.51 euros

The French distribution giant has recorded exceptional costs in 2010 of 1.13 billion euros, which have weighed on operating profit.The group, which announced Thursday a net operating profit up 9%, according to its own forecasts made in January, said an anticipated earnings growth in 2011.

Manitou: -3.31% to 23.98 euros

The group was cautious about the recovery in margins in 2011 after having returned to growth in its turnover last year thanks to a rebound in orders.

Club Méditerranée: 3.25% to 17.45 euros

The group announced Thursday a turnover in the first quarter of fiscal shifted 2010/2011 (1 November-31 January) up 14.6% to 337 million euros and bookings for the summer "growing two numbers. "

Always on the side of publications, after market, we will follow the annual results of Areva and results for the fourth quarter of Bio Alliance.

"The year 2010 was more than a transition year, 2011 should be a significant step for Safran," says Jean-Paul Herteman, CEO of the aerospace and defense supplier, said in a statement.

A step that should enable it to achieve an operating margin in 2012 over 10% of sales – Rudder for 2010 shows a margin of 8.2% – and to reproduce the same 20% increase in operating profit recorded in 2010. And, thanks to a "strong recovery" of its activity and continued cost reduction.

The equipment manufacturer specializing in aerospace, defense and security is also expected for 2011 growth of at least 5% of its turnover, mainly driven by an increase of 10 to 15% of services in civil aviation and through its development in security.

Saffron Partners with Chinese

Safran plans to finalize the acquisition in 2011 of SNPE Energetic Materials to create a unified entity in the field of solid propulsion and that of the U personal loan for poor credit.S. L-1 Identity Solutions in the field of biometrics. The group chaired by Jean-Paul Herteman will even create a joint venture in the aircraft wiring with Chinese COMAC to prepare for the future Chinese aircraft C919. Labinal, a subsidiary of Safran hold 49% and Shanghai Aircraft Manufacturing, a subsidiary of COMAC, 51%.

In 2010, profit from recurring operations rose 20% to 878 million euros, for a margin up to 8.2% (against 7% in 2009), with four activities: aerospace propulsion, aircraft equipment, defense and security.

Turnover rose modestly by 3% to 10.760 billion euros.Organic, it fell 1%, "primarily due to the planned completion of a major identification in Cote d'Ivoire".

The current situation is unfortunate: when an attacker is unlikely to be identified, most victims complain, but stick there. Without a moment to imagine enjoying any financial support.

Timely remedies available …

To redo official papers and keys has a cost that can be supported by insurance "means of payment, usually sold by banks. The most generous contracts will cover up the cash to the extent that they were withdrawn within 48 hours preceding the assault, or theft of a mobile phone and fraudulent communications that go with it. Be careful though if you read the contract, some assurance of mobile phones are indeed sometimes disappointing.

However, nothing to hope for other stolen property and value: purse, scarf, etc..Unless you have a comprehensive home particularly strong on this point, the robberies are never compensated.

People with low incomes (less than 16,716 euros per year for 2011, excluding increases for dependents) may however receive aid from 4179 up to EUR (for 2011) allowing them to redeem the stolen items. They need to understand that the CIVI (Commission on Compensation for victims of crimes, with the high court of their home. More information http://www.justice.gouv.fr/recherche-juridictions/ ).

Some individual policies are operational

Bruises or emotional shock found by a work stoppage, may also give rise to compensation. As before, we must seize the CIVI, and compensation if there is, it is also reserved for persons with limited resources.The supporting documents to gather as many, you'd better take this step with an attorney (if benefiting from legal aid) or insurer for legal protection if necessary.

Another avenue: that of GAV (Guaranteed Accident Insurance), individual contract, whose interest is to evaluate and compensate the individual cases, the accidents of everyday life, including assaults, particularly in the absence of third party responsible and identified. Provided that this guarantee is very efficient, that is to say, it plays for 1% of disability (in the case of the best contracts), which corresponds to a stiffness of the hand or the shoulder for example. Finally, you can turn to a single accident, subject again, that security is not confined only to severe disability.

Given the risk of "food riots" which he considers "real" backdrop of soaring agricultural prices, Bruno Le Maire calls to take urgent steps to reform the international markets.

Pitches Friday in Rome for consultations with the two UN agencies responsible for development of agribusiness in developing countries (FAO) and the emergency food aid (World Food Programme or WFP), the French Minister of Agriculture has set itself the goals outlined France for the G20 in June: "Agriculture is central to our priorities," he said.

In seven months, according to the Director General of FAO, Jacques Diouf, the price index for food increased by 37% in January to reach their highest level.The grain increased by 62% in the same time, although it remains below the peak reached in April 2008.

Fight against speculation

For the poor who spend up to 60% of their budget on food, the financial burden becomes unbearable. "These increases in prices and volatility will continue in the coming years if nothing is done to address the root causes of the imbalance in international agricultural system," said Jacques Diouf.

In this context, Bruno Le Maire calls to intervene in four areas best payday advance. Transparency in international stocks should be improved by better statistics, trade information and tools for faster action, to direct any surplus to deficit regions.We must also fight against speculation on agricultural products, "economically dangerous and morally unacceptable", which allows some operators to achieve in a few days of huge gains. Physical and financial markets must also be better controlled to obtain prices "more stable and less volatile."

It is to strengthen international cooperation between governments, multilateral institutions, such as FAO and WTO, and market operators. And to allow the WFP distributes food aid to buy "at prices lower and more stable." Finally, France calls for boosting investment in agriculture. According to FAO, the share of agriculture in official development assistance fell from 19% in 1980 to 5%."It's not normal that the stimulus package agreed in July 2008 by the G8 summit of L'Aquila are not yet in place," said Bruno Le Maire.

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France remains the largest AAA. This note, the best is always what the rating agency S & P (Standard & Poor's) – one of three major awards at the world-France.And what is triple A party to last at least a few months since S & P's note accompanying a stable outlook.

This assessment "reflects our views on health and strength of the French economy, the political environment, which we estimate to be flat and oriented towards prudent economic policies," says Marko Mrsnik, an analyst for S & P cited in the statement.

S & P increases the scenario in which the French government will continue its effort of fiscal consolidation and "could reduce the deficit to about 3% of gross domestic product in 2013."

France has promised to reduce its budget deficits (government, social security, local) of 7.7% of gross domestic product (GDP) this year, a record at 6% next year.Paris is a deficit of 4.6% of GDP in 2012 and 3%, the maximum allowed under the European treaties, in 2013.

Debt in a few dates and figures

The debt of France amounted to 1591.5 billion at the end of second quarter 2010 (latest figure available), or 82.9% of gross domestic product (GDP). It is expected to exceed 1,600 billion at end 2010 to 83.2% of GDP, or about 25,000 euros per capita.

It increased by almost 60% since 2003, during which she had crossed the symbolic threshold of 1,000 billion euros and the 50% of national wealth. The mark was surpassed 500 billion in 1993. Ultimately, the burden of debt to GDP has tripled in 30 years.

The Department of Budget expects that the French debt will represent 86.2% of GDP in 2011 before reaching 87.4% in 2012 and to decline slightly.Government debt is owned 70% by non-resident investors, a figure rising steadily in recent years.

A closed

In the "club" very closed countries rated triple-A by all three agencies (S & P, Fitch Ratings and Moody's) include, in addition to France: Germany, Netherlands, Finland, Austria and Luxembourg in the euro area; Norway, Sweden, Denmark, Switzerland and United Kingdom in the rest of Europe, USA, Canada and Singapore around the world.

S & P, "an issuer of bonds rated AAA has extremely strong capacity to meet its financial commitments." Moody's, the Supreme Aaa rating thus reflects a "strong economic, financial and institutional exceptional, allowing unfettered access to credit" and requires that "no conceivable impact is likely to affect repayment capacity."Fitch, meanwhile, explains that "the political will and capacity to mobilize resources to meet their financial obligations is a key element of sovereign credit reliability.

The rating agency Dagong Chinese, meanwhile, has awarded its own "Triple A" only seven countries: Norway, Denmark, Luxembourg, Switzerland, Singapore, Australia and New Zealand. It notes the AA-France, the United States and Germany AA AA +.

With agencies

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