Under the effect of the coronavirus and containment, the first quarter of 2020 saw the net destruction of 453,800 jobs in the private sector, while a sharp reduction in the French trade deficit was noted in March.

Under the effect of the coronavirus, the first quarter of 2020 saw the destruction of 453,800 jobs in the private sector, a decrease of 2.3% compared to the previous quarter, according to a provisional estimate from INSEE. Over one year, the decline is 1.4% (-274,900 jobs), with a fall in market services and a dip in temporary work. All in all, this is the "lowest level since the third quarter of 2017", according to INSEE.

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1.7 billion trade deficit in one month

Containment measures to combat the spread of the coronavirus also caused a sharp reduction in the French trade deficit in March, the fall in imports being greater than that in exports, Customs announced in a statement on Thursday. The trade deficit reached 3.3 billion euros in March, 1.7 billion less than in February.