France jobless rate hits 14-year high

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New statistics released by the French government show that unemployment rate rose consecutively during the past 18 months putting the level at a 14-year high.

According to the figures for the month of October, an additional 45,500 people were without a full-time job — an increase of 1.5 percent compared to the similar figures of September.

The French Ministry Of Labor said the total number of the unemployed rose to 3.1 million resulting in a 10.6-percent increase from October 2011.
An addition of 71,500 part-time workers registered for unemployment benefits in September.

When adding both full-time unemployed and part-time unemployed, the number of workers seeking employment rises to 4.58 million, making it the highest level since May 1998.
Many unemployed over the age of 50 have more difficulties finding a new job.

Since President Francois Hollande took office in May 2012, a further 230,000 people have registered as jobless.

Reports say that France is heading for a recession at the end of the current year.

Europe plunged into financial crisis in early 2008. The worsening debt crisis has forced the EU governments to adopt harsh austerity measures and tough economic reforms, which have triggered incidents of social unrest and massive protests in many European countries.

 

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