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"The Great Recession does not amount to a great vacation," says Professor Erik Hurst, University of Chicago, who with two other economists Mark Aguiar and Loukas Karabarbounis, conducted a study on "the use of time during recessions "(Time use DURING recessions, NBER).

Of the 260 million hours a week lost in the labor market between January 2007 and December 2010, some 92 million, over a third were employed in domestic work and child care. These figures come from the annual survey of the Federal Administration (Bureau of Labor) on how Americans spend their days.

Place electrical cables lines high and very high voltage, from the soil or water into the air and ask, carry baskets … Perform all aerial work construction and maintenance of the network, that in the safest conditions. A highly specialized expertise and not without risk when French industry stands in the world thanks to the skills of RTE, the electricity grid operator, and its teams.

The RTE has decided to move to the next level. He announced today the creation of a new subsidiary Airtel whose mission is to build and sell these services abroad based on a new fleet of heavy helicopters. The objective is to assign a machine more powerful and secure work risky for humans pay day loans.

World Premiere

Airtel takes delivery today in Marignane, Eurocopter's headquarters, the first of the EC 225 ordered. The new company becomes the first operator of such a machine in France after the Navy. The EC 225 belongs to the class of heavy helicopters of 11 tonnes and the Super Puma family of which it is derived in civilian version.

This device is unique because of its equipment developed for two years by a joint team involving Eurocopter and the RTE. The two companies know each other well. Since its inception, the RTE 100% pilot a fleet consisting of Eurocopter far as light aircraft or EC 135 Ecureuil.

The Acting springboard to employment or siding? To find out, the Prism, employers' federation which includes 600 companies and 90% of the turnover of the sector, followed two years of 5000 interim recruited in January 2009. For 82% of them, the use of temporary was "to find a solution quickly", even if that allowing young people to gain work experience. It was just a "lifestyle choice" for 18% of the cohort.

Two years later, one in three still working as a temp. Less than one in five advanced employment center, 21% landed a CDI, CDD a 15%, 3% have returned to school and 2% left the labor market. During the period, "29% have experienced the CDI at least once," says the prism, and 38% had access to a CSD."In a period that was terrible, you get a good figure, says Arnaud de la Tour, president of Prism. This is proof that the interim is not a trap insecurity. "The young are doing well.

Nearly one out of two after two years in CDI or CDD, as against 23% still acting. "The acting is a means of integration into social and working life allowing them to move," Judge Arnold of the Tower.

Ensure the transition periods

Following this study, the Prism has established six key patterns of agency of all ages. 24% of them are "acting career" that are not seeking permanent but build their lives at the mercy missions.19% have "paths encountered" alternating tasks, periods of unemployment, sick leave, minimum social … The young, qualified and looking to get a firm foothold, make up the third block and is 17%.

Then there are the 16% who see in the interim how to ensure the transition periods between CDI, or as a means of conversion. The fifth group consists of people who want to keep their independence and get rich from others. These are often temporary "in the second half of career", graduates or students. Finally, 4% are foreigners and the interim use as "a process of professional integration."

Employment center provides 5,000 more unemployed in 2011

Employment center Tuesday revised its forecast of employment and unemployment. With growth of 1.7% in 2011, the economy should create 130,000 jobs this year, 33,900 more than in the first half.A shift is expected in 2012, where between 101,000 and 126,000 new jobs are anticipated. "The slowdown in job creation combined with the dynamism of the labor force should not be allowed to initiate a decline in unemployment," warns employment center. The number of unemployed is expected to increase this year of 5000 in category A (there is already at 32,000) and 78,000 in A, B and C (102 700). If growth remains at 1.7% in 2012, employment center predicts a decline of 5,000 unemployed and 12,000 A in A, B and C. If it drops to 1.4%, it will be an increase of 27,000 in A and 35 000 in A, B and C.

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"The temporary assignments are becoming shorter

Beijing puts pressure on the euro area. This Saturday, The People's Daily, the official organ of the Communist Party to power in China, called on European countries to act decisively to resolve the debt crisis that hits the old continent. "Europe is at a critical moment in its history. It must show great wisdom, great courage and great determination and take action. If the decision comes too late, some members of the euro area will leave "the daily warns.

Beijing, which was ready in early to invest more in Europe to diversify its three trillion dollars in reserves, could turn back if the situation does not improve quickly. "If Europe continues to dither, the situation can get worse. Foreigners who wish to help will not dare and the euro area will disintegrate.This would be a disaster for Europe and the world, "said the daily.

Nicolas Sarkozy will discuss with Angela Merkel

At the opening of Summer Davos Forum, Chinese Premier Wen Jiabao, however, had expressed his confidence in the euro zone leaders business card templates. "China believes that the European economy can bounce back," he explained. Support has already been taken in Greece, Portugal, Spain, and Hungary.

Friday, Nicolas Sarkozy, who met Greek Prime Minister George Papandreou, has again reaffirmed the determination of Paris and Berlin to support the country in which the probable default of most concern global investors. This last debate "in the coming days" with Angela Merkel of the rapid implementation of measures decided on July 21 to stabilize the euro area.For its part, Greece has called an extraordinary cabinet meeting of his government on Sunday.

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"SPECIAL CRISIS: fear of debt

The European aid to Greece drags on and the markets may punish him on Monday. Having completed an eventful week in the red, but after still won by 2% in five days, the CAC 40 is expected down 1.7% at the opening on Monday, according to Reuters.

Concerns about the hypothesis of a failure of Greece are likely to weigh even the morale of investors, like those of Asian stock markets on Monday. Friday and Saturday together in Wroclaw, Poland, EU finance ministers have decided to postpone their decision in October on a loan of 8 billion euros in Athens, pending the outcome of a "troika" of the state progress of promised reforms.In addition, they have made little progress on the second aid plan for Greece, nearly 160 billion euros including the private sector, pledged in principle last July 21. Greece should show its good will, while his government is accused of delay in implementing measures to reduce the deficit. This Sunday, Athens has announced in the wake of new economies to reassure its European partners.

It must be said that in Europe, solidarity with Greece began to annoy the majority of people. Evidenced by this poll Ifop for Sunday Ouest France, which states that 68% of the French disapprove of the increase in French contribution to the rescue of Athens.And while "divisions" have emerged among governments and the European Central Bank, as noted by Timothy Geithner, U.S. Treasury Secretary, on the sidelines of the meeting of European finance ministers that he was invited .

To fill a deficit in the U.S. To this must be added the concerns about the U.S. economy, which pose a risk to global growth. Markets await including many of the plan for the use of 447 billion dollars of Barack Obama. The U.S. president, anxious to see his program pushed by Congress, has called this weekend to support the Republicans, to avoid "dead end". Moreover, he warned the Americans Saturday that they would provide "pull their weight" to reduce the country's budget deficit, while the United States must find 1.2 trillion dollars in savings by the end of the year.Thus, Barack Obama will propose to Congress Monday a tax on the income of taxpayers earning over a million dollars a year.

Analysts and investors are also awaiting a meeting of the Federal Reserve on Tuesday and Wednesday on interest rates in the United States. The feeling now is that the U.S. central bank will launch a new version of "Operation Twist" program to exert downward pressure on interest rates over time. Such a prospect would be a tasteful for scholarships, especially as the Fed pledged to keep rates low until mid-2013 at least.

Macroeconomic side, Great Britain, the Financial Times this fall could be a gap of 13.8 billion euros in public finances, or 25% more than expected.Such an amount would extend the austerity policies adopted in Britain.

United States, the NAHB housing index will be released in 16 hours.

On the foreign exchange market, the euro appears sharply lower at 1.366 dollar (-0.94%) on Monday morning. Oil prices are also in the red in Asia, with uncertainty about the U.S. economy and the delay in the euro area in the management of the Greek crisis. In early electronic trading, a barrel of "light sweet crude" for October delivery gave up $ 1.12 to 86.84 dollars per barrel of Brent North Sea crude for October delivery gave 81 cents to 111.41 dollars .

Values ​​to follow

• Banks

Societe Generale, Credit Agricole and BNP Paribas will be particularly scrutinized by investors on Monday.Doubts about their strength threatens the economy by depressing household and pushing companies to delay their hiring and investment, analysts and professionals. French banks have agreed to exchange more than 90% of Greek bonds they currently hold in the second aid package to Greece decided in late July, said Friday the Minister of Economy, Baroin.

• EADS

Qatar is interested in buying Daimler a 7.5% stake in EADS, according to the enactment of Der Spiegel Sunday.

• Technip

The group said it had been awarded by a contract Petobras provision of basic engineering and detailed design for a new fertilizer complex to be located in Uberaba, in Minas Gerais, Brazil.

• Sanofi

The pharmaceutical giant said Monday it has obtained from the American justice the right to maintain exclusivity until August 2012 U.S. sales of Eloxatin, a drug against colorectal cancers.

• Natixis and Saffron

The bank released the CAC 40, replaced by the industrial and technology group, previously listed on the SBF 120.

• Airbus

The European aircraft manufacturer will present its global market forecast to 2030 in London.

Former vice president of PayPal, Reid Hoffman, 44, is a key figure in Silicon Valley. It was the first to invest in Facebook, along with Peter Thiel, in 2004. His most recent investments include Ping.fm, Zynga and Grouply.

LE FIGARO. -What is the project founder of LinkedIn?

Reid Hoffman. – I always look for broad trends. When I started to think of LinkedIn, in 2001-2002, I saw two. The first is that the world of work is changing. Around the world, lifetime employment is disappearing and every individual is responsible for developing their own skills, in a connected world. The second was the rise of the Internet. Result, LinkedIn is the platform that allows each person to develop itself to show who she is, she works with, access to other experiences and skills.We are still at the beginning of the implementation of this vision. For now, people see the opportunity in LinkedIn to stay connected with others and find experts. It is not yet to the point where people question the means to invest in themselves, become more efficient. Today, everyone googlise names and everyone can be found on Google. What people do not realize is that they can ensure that what the first track of their professional profile.

How do you change the world of social networks?

The existence of other networks has been good for us. But people still think they choose to participate when we are already in a networked world. The question is: how will we navigate intelligently in this world? Today, Facebook is the barbecue in your garden. Twitter is the equivalent of the media.LinkedIn is the desktop. There is room for other networks but it has to offer is both broad and unique. There are broad categories such as religion or sports that are not occupied. I think there will be a big player that we do not yet know who will emerge within five years.

You see Google + as a potential competitor?

+ Google is a good social product. The question is: how will he differentiation? It is not yet a competitor of LinkedIn. It could go in that direction but it is not safe. To serve the professional market, it must be specialized. LinkedIn Today provides information to industry sources. A circle with your co-workers does not go into this level of specificity.Moreover, the context is important: what do you see on your screen?

What do you think valuations of Internet companies today? Is there a bubble?

Valuations are a sensitive issue. This is the net worth based on what we think is the future. My view is that social networks are fundamental phenomena that will change the world, yes. But with regard to the numbers, I let the markets decide. There are bubble if the prediction is bad, but I argue that change is very deep.

These networks generate data and make business. Is not this a problem?

In the case of LinkedIn, the use of data turns to the advantage for our users. There is no question of location of Internet users or photos of their children but rather to know what skills are likely, and so on.Users can not feel taken aback by the use of data. When you have a technological transformation, people fail to recognize that transparency is good for them massive. Surfers will discover that to move towards more openness and transparency is beneficial for them. We are often asked about our practices and always act quickly. Must maintain confidence.

LinkedIn helps determine business strategy according to their recruitment. This can be problematic vis-à-vis their competitors?

When a company publishes a job, it puts as much detail as possible to attract the best profile. We can already draw a lot of information of such data. But we must look at the return: a company wants us to know in which area it recruits to form the best teams.For investors, this can also be good to know in which direction it goes. So there is more value to be open and transparent. Finally, for us, the interest of the individual will always pass before that of the company. We want our users to have a positive experience.

Personally, you are investing in numerous start-up early, including Facebook and Zynga. What is your strategy?

I look at three things when I invest: market places that inspired me to invest in newly-Airbnb, networks, Zynga is a network of games and platforms-as Shopkick. It is also important that there is no conflict of interest with my work at LinkedIn. So I'm on the board of Zynga, but not Facebook.This is useful in that I see common trends on both sides, parallels that are used for my investment as my work at LinkedIn.

Where do you come the next big technological breakthrough?

I closely monitor the field of open source hardware.

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Relief from international stock markets. Wednesday after the U.S. places, it's time for Asian indices on Thursday morning to welcome the statements of Nicolas Sarkozy and Angela Merkel reaffirmed their commitment to maintaining Greece in the euro area. The Asian markets – and notament Tokyo – earn up to 1.5%. For its part, the euro ahead by 0.5% against the dollar and 1.375 against the dollar is trading early this morning. The "future" on the European stock index Eurostoxx 50 show an increase of 2.50% on opening.

Following a conference call held late in the day Wednesday between Nicolas Sarkozy, Angela Merkel and George Papandreou, the Franco-German couple has been very clear in stating that "the role of Greece in the euro area. "In a statement released in the process, they attached a condition, however, also very explicit: "The implementation of strict and effective recovery program of the Greek economy supported by the countries of the euro area and the IMF and which conditions the disbursement of future tranches of the program. "

Since the Davos Forum held for three days in Tianjin, China, Zhang Xiaoqiang, deputy director of the China Development and Reform, confirmed that China stands ready to buy securities with sovereign debt states involved in the debt crisis.Earlier in the day, Chinese Premier Wen Jiabao had made statements to this effect while advising countries to reduce their deficits and to open their markets rather than relying on China to pay off the debts of the world's economies wide.

Similarly, the president of Brazil, Dilma Rousseff, said his country is ready to participate in a "global effort" against the economic crisis that affects rich countries, following the announcement of a meeting of countries emerging Brics (Brazil, Russia, India, China and South Africa) to discuss aid to Europe.The head of state stressed, however, that there is no "global solution" to the crisis and that much depends on the countries concerned.

For its part, the U.S. Treasury Secretary Timothy Geithner who should participate in a meeting Friday of finance ministers in Europe, had said before the conference between France, Germany and Greece, convinced that the Europeans "have financial resources to do what is necessary and avoid the collapse "of the euro area". He had, however, added that the Europeans will have to "recognize that they will have to do more and have fallen behind."

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"Paris and Berlin reaffirm the role of Greece in the euro

While many companies publish their results on Wednesday, so good for Vivendi. The group of telecommunications and media has indeed released the results broadly in line with market expectations for the first half and confirmed its outlook for 2011.

On the occasion of the publication, the Chief Executive Jean-Bernard Levy said he "confirms the outlook annual adjusted net income in excess of 3 billion euros" against 2.69 billion euros in 2010, which will increase the dividend per share. The businessman says he is confident because of "operational indicators on the rise, despite a financial and economic disruption."

In the first six months of the year, the group has doubled its net profit after minority interests of 2.6 billion euros with a net gain of $ 1.2 billion related to the settlement of a dispute in Poland.Adjusted net income shows him up by 20.2% to 1.83 billion euros. As for the EBITA (operating income, net of amortization of goodwill), it stood at 3.36 billion euros, up 4.6% at constant exchange rates free online credit report. Group sales reached 14.25 billion, up 2.4%. The market on average expected a turnover of 14.24 billion euros, an EBIT of 3.31 billion and adjusted net income of 1.73 billion, according to estimates by seven analysts quoted by Reuters.

For businesses, the group's results were supported by the performance of Activision Blizzard and GVT. The developer and publisher of French-American game has achieved an operating profit of 833 million, up 34.4%.Over the past twelve months, the portfolio means of Canal + France recorded a net growth of 96,000 subscriptions.

Asked about the proposed IPO of 20% of Canal + agreed by the other shareholder of the group, Lagardère, and rejected the first time in March due to the nervousness of the markets after the earthquake in Japan, the CEO of Vivendi, Jean-Bernard Levy, kicked into touch. "As we all know the ball is in their court," he said. "We expect the recovery Lagardère decides whether or not what is now the right according to our agreements.

The day after a session sharply higher on Wall Street and in Asia, the Paris market continued its rebound sharply on Tuesday after rising 2.2% Monday. At the opening, the benchmark index of the Paris Bourse was awarded 1.22% in 3192, 69 points. But at midday, the CAC 40 is pressed into the red with shortness of breath and banking stocks before the release of U.S. indicators

Yesterday on Wall Street indices ended the session up 2.2% for the Dow and the Nasdaq 3.3% driven by the consumption figures in the United States. Asian markets followed suit with their American counterparts. In Tokyo, the Nikkei was up 1.22% to 8959.75 points while unemployment is again on the rise for the second consecutive month in July and that retail sales fell by 0.3% from June

The correct orientation of financial markets has boosted oil prices.Asian markets, the Nymex is trading at 87.49 dollars, he finished in 87.27 dollars in New York, up $ 1.90 from Friday. Brent crude traded him to 112.17 dollars.

On the front of the foreign exchange market, the euro continues to rise slightly against the greenback, moving always on top bar $ 1.45. At about 8 am in Paris, the European currency was worth 1.4528 dollars against 1.4510 dollars late Monday.

Fears about the health of banks

The day before, call to order by Christine Lagarde bound for European banks has prompted European leaders to defend the institutions of the old continent. "European banks are much better capitalized today than they were a year ago. This was confirmed by stress tests conducted in July, "assured the Commissioner of Economic Affairs Olli Rehn.

But on Tuesday, it was the turn of the International Accounting Standards Board (IASB) to throw fuel on the fire. The IASB believes that the provisions made by banks and European insurers about their exposure to Greek debt have been dumped, reports the Financial Times. According to the newspaper, BNP Paribas and CNP Assurances are particularly concerned by this risk. BNP Paribas is stable at 34.41 euros and CNP Assurances does not earn more than 0.20% to 12.35 euros.

Also Tuesday, the president of MEDEF, Laurence Parisot, in turn criticized the words of Christine Lagarde, saying his statement "incomprehensible. European banks are strong. And for French banks, we must bear in mind that we have banks among the strongest in the world, "said the boss of bosses of Europe 1.

The International Monetary Fund (IMF) has also generally lowered its economic growth forecasts for 2011 and 2012, leaving unchanged the forecast of Germany for the current year.

Still on macroeconomic indicators will be out today. Before trading, the markets did not take umbrage at the publication of a fall, but strong early sales of new homes in the second quarter in France.

Economic Confidence Index, published by the European Commission, fell to 98.3 points against 103 points in July. This is the sixth consecutive decline. Throughout the European Union, the confidence of business leaders and consumers has declined even more significantly, by 5 percentage points to 97.3 points, against 102.3 points in July.

Are also expected in mid-day figures for business failures.

Overseas, the index of consumer confidence, the housing (Case-Shiller) and the minutes of the last Fed meeting will also facilitate the session.

Arcelor-Mittal is growing in Australia

On the corporate side, Arcelor-Mittal (1.60% to 14.58 euros) is about to take control of Australia's Macarthur, world's largest producer of pulverized coal, in association with the American Peabody Energy . The tender offer made by the European steel amounts to 5.16 billion dollars. Macarthur's management finally yielded to the new offer revised upwards by the Arcelor-Peobody tandem: it is 16 Australian dollars (11.8 euros) per share, against A $ 15.50 earlier.

The semi-annual publications are now many, especially among heavyweights rating.Note that the Y real, Havas, Bouygues, Colas, Vinci, Bollore, NRJ Group and Devoteam detail their half-year after the market closes.

In addition, Ipsen (6.12% to 23.50 euros) announced revenues up 5.3% in the first half. He also announced an upward adjustment of its sales forecast for 2011 in favor of a less pronounced decline than expected sales in general practice.

The French shipowner CMA-CGM said that 2011 should be "a good year" for the group, claiming to have already funded the bulk of its investments for 2011 and 2012.The company said to have $ 1.7 billion (1.17 billion euros) in cash at the end of June, July and have paid $ 550 million bond line, while press reports evoked ago few weeks of possible cash flow problems.

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The Italian government, which has set a target to stop the speculative pressures of markets on Friday adopted an emergency order providing for a new austerity plan amounted to 45 billion euros over two years. These austerity measures designed to recover "20 billion euros in 2012 and 25 billion in 2013." Their adoption will enable Italy to cancel its public deficit to 3.9% today – by the end of 2013.

For the first time, the prime minister has agreed to weigh the tax burden with a "solidarity tax" on higher incomes. According to leaks distilled by the social partners, this contribution could rise to 5% for every € 10,000 for employees earning over 90,000 euros, and 10% in excess of 150,000 euros. Self-employed workers earning more than EUR 55,000 will be taxed at 41%. However estates and housing will remain free of taxation.A single tax of 20% will be charged on income from capital, currently 12.5% ​​against and 25% of bank deposits. The introduction of fiscal federalism will be early in 2012, the government hopes to make them more aggressive fight against tax evasion us fast cash. The bill payments in cash will be severely restricted. A single municipal tax will also be created.Finally, the Economy Minister Giulio Tremonti said, in an interview with representatives of regional and local authorities, that the government intended "to reduce the number of provinces (departments)" and "consolidate the common" – today the number of 8000.

Heavy sacrifices will be required to Italians in particular with regard to the welfare (social services and family) who will suffer next year the bulk of the effort (about 20 billion euros) all levels of social assistance and transfers to local governments will be affected. However the Northern League had opposed the cuts, pensions will be spared. Women in the private sector will be encouraged to continue working until age 65, or 7 years older than today.

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