French President Francois Hollande led a chorus of approval after unions and employers reached a deal on reforms to the country's complex labour laws after more than three months of talks, reports France 24.
The measures are designed to give more flexibility to employers who have long complained of the red tape strangling the French economy.
But it will also offer more protection to employees, a key concern of France's unions.
The national agreement requires the support of at least three of the five main union confederations for it to be ratified: late Friday, three of them appeared to back it, the other two strongly opposed.
Hollande welcomed the agreement as a success for social dialogue.
"This agreement will mean new advances for the workforce," he said, calling on the government to press ahead with getting the proposals drawn up into a bill.
Both the unions and employers are due to formally approve the deal in the coming days. But leaders on both sides seemed satisfied with the agreement and ready to recommend it to their respective constituencies.
If that happens, the measures will go before the French cabinet on March and from there to parliament, with the government hoping it can be entered into law by the end of May.
Prime Minister Jean-Marc Ayrault expressed his satisfaction at the breakthrough, saying it struck a "balance between the security needed by workers and the adaptability that companies need".
Read more of this report from France 24.