Good morning ! Thursday, the week progresses, and after those 4 days off last week, more than, what, come on, 48 hours, and it's the weekend. I hope you got a good boost at the beginning of the week to be able to let go of the pressure for the last few days. On our side, we continue to scrutinize the news, to try to know where we are going. Finally, with the austerity policy of our government, we already have a small idea; )
This morning, before attacking the economy, I wanted to salute the initiative of Manuel Valls on family reunification. You will notice that in this government, each time someone makes the start of an intelligent debate proposal, he is stigmatized and vilified, for fear that this will overshadow the other protagonists, who have not had this political courage.
I remind you that family reunification had been decided in 1976 by… Giscard… and Chirac, Yes again he. Always with the aim of providing low-cost labor to French employers... and thus, putting downward pressure on the wages of French workers...
Well, 37 years later, I think you are seeing the fruits of it… No need to hide your face, it's like everything, you have to admit the reality…
Finally, it's a policy that was then validated by Europe in 2003, so it gives them a good excuse to do NOTHING... (which will, no doubt, be fertile ground for all extremists …)
It was the story of the day.
But the primary purpose of this post is to highlight the inconsistencies that seem to plague our country, as the government announces zero or 0,5% growth in the second quarter.
We are increasingly questioning the veracity of these figures, not out of pure masochism, but to try to find out the truth.
And as Master Confucius points out, it is clear that the indicators are not good for the third quarter...
Because we learn here that the unemployment insurance scheme paid €228.800.000 in wages in July to employees, whose companies were in very, very big trouble, if not more.
Furthermore, we learn that in the same month there was a sharp drop in business creations, self-employed in the lead, this while subsequently theeconomy in August contracted sharply, and it is on a downward vector to the point of starting GDP by 0,3% for this third quarter.
So, I don't want to play the Cassandra, but I think that the Coué method has its limits, and that these are values to be taken into consideration to "try" to anticipate the future...
The wages advanced by the unemployment insurance scheme to employees of failing companies have exceeded the peak reached during the crisis in 2009.
228,8 million euros: this is the amount of salary advances paid in July by theAssociation for the management of the employee debt guarantee scheme (AGS), which replaces failing companies (in legal redress, a judicial liquidation or backup procedure) in partnership with theUnedic.
According to Le Figaro this figure, although provisional, is nevertheless worrying. It exceeds the 212 million euros monthly reached in 2009, at the worst time of the crisis.
The benefits paid by the AGS since the beginning of the year have also increased by 4% compared to the same period in 2012, reaching the amount of 1292,5 million euros. Cases already created in 2013 were 17069 at the end of July, or 4,2% more than during the same seven months of 2012.
Le Figaro affirms that more than 80% of requests come from companies with less than ten employees and that over the last twelve months the most represented sectors have been trade, transport, accommodation and catering (35,3%) as well as than construction (27,4%).
The AGS nevertheless continues to maintain its contribution rate unchanged since April 1, 2011, set at 0,3% of payroll. This (which has already been increased to 0,4% during the crisis) covers two-thirds of the organization's needs, the rest coming from the sale of business assets. The amount of these recoveries made since the beginning of the year amounted to 411,3 million euros on July 31, or +4% compared to July 2012.
Giulietta Gamberini
source: Latribune.fr via Master Confucius
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