Monaco : an unemployment rate of...4.5%

Monaco fully benefits from the economic recover. According to figures given by the service of labour and social matters of Monaco, within two years, on hardly two hundred hectares, more than 4.000 jobs have been created in the private sector. As a result, the unemployment rate, calculated on the job basin of the Principality (Monegasque people, residents, inhabitants of bordering towns and frontier Italians), has been characterized by a sharp increase. In 1997, 1.100 job seekers were registered. Today, they are 743, that is to say an unemployment rate of…4.5%. As a comparison, the unemployment rate in France is around 9.5%, in the Alpes-Maritimes it is 11.6% (in the first quarter 2000) and in the region PACA it is 13.5%. With more than 31.000 jobs in the private sector, Monaco becomes one of the main economic movers on the French Riviera…