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Philippe Waechter

Chief economist

French households are optimistic on jobs

27.05.2016 - Philippe Waechter

The momentum of the French labor market is dramatically changing.

The households’ confidence index for May was published by INSEE this morning. It was at its highest since October 2007. The crisis is almost over as confidence is back to its pre-crisis level. The most important point is the dramatic improvement of the labor market component of this index.

Households’ perception of the unemployment dynamics is at its lowest since June 2008. Again it’s back to its pre-crisis level. This is a radical change. Households are more optimistic on the future, for them individually and for all the French people.

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Philippe Waechter is Head of the economic research department of Ostrum Asset Management.

Philippe joined Bred Banque Populaire in April 1988 as an economist. In 1994 he became Director of the economic research department. When Banque Populaire Asset Management was created in June 1998 (which then became Natexis Asset Management in May 2003) Philippe held the same position.

Philippe is graduated from the University of Paris I and worked as a Professor at the University of Evry from 2002 to 2003. He regularly works for the print and audiovisual media.

On Twitter

Philippe Waechter . 7h ago

Greece, the future remains bleak https://t.co/KbdMNnsXCR https://t.co/MZkPwpAVmH

Philippe Waechter . 8h ago

Wishful thinking at the Bank of England https://t.co/dk9nU3kTP6

Philippe Waechter . 8h ago

The graph shows the GDP deviation from trend in the UK, EA, France and Germany. The UK was not able to catch the st… https://t.co/510InQ9Opu

On 3 April 2018, Natixis Asset Management became Ostrum Asset Management.