Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 15,307.20 -80.41 -0.52%
S&P 500 1,655.35 -13.81 -0.83%
Nasdaq 3,463.30 -38.82 -1.11%
Ticker Volume Price Price Delta
STOXX 50 2,835.01 +13.36 0.47%
FTSE 100 6,840.27 +36.40 0.53%
DAX 8,530.89 +58.69 0.69%
Ticker Volume Price Price Delta
Nikkei 15,601.00 -26.25 -0.17%
Hang Seng 22,870.60 -390.52 -1.68%
S&P/ASX 200 5,074.00 -91.37 -1.77%

French Labor Minister Wants Fewer Hired on Temporary Contracts

French employers should hire more workers on a permanent basis, rather than on temporary contracts that have become prevalent in recent years, Labor Minister Michel Sapin said in an interview on France 2 television.

Reforms are needed to ensure that permanent work contracts are “the rule,” he said, without giving specific proposals, adding that unemployment will start to decline by end of 2013.

The government plans to raise 20 billion euros ($25.6 billion) in taxes and to cut spending by 10 billion euros as part of a recovery plan, and not austerity measures, Sapin told the tv station.

To contact the reporter on this story: Carol Matlack in Paris at cmatlack@bloomberg.net

To contact the editor responsible for this story: Vidya Root at vroot@bloomberg.net

Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.

Sponsored Link