Open

Coming up

Don't miss

Replay


LATEST SHOWS

#THE 51%

Breaking stereotypes

Read more

#TECH 24

Galaxy S5 v. HTC One (M8): Which is the right one for you?

Read more

FRANCE IN FOCUS

New PM Manuel Valls outlines priorities

Read more

FASHION

Jean-Marc Loubier, bags and shoes.

Read more

ENCORE!

Hip-hop musician Beat Assailant on mixing the sounds of the city

Read more

REVISITED

In Prijedor, survivors fight to keep memory alive

Read more

FOCUS

Bosnia: Hopes of change among disempowered citizens

Read more

IN THE PAPERS

¡Gracias, Gabo!

Read more

IN THE PAPERS

The Socialist rebellion grows

Read more

  • Algeria's ailing Bouteflika clinches fourth term amid fraud claims

    Read more

  • World honours Garcia Marquez’s magical literary legacy

    Read more

  • Abel Ferrara’s hotly awaited DSK film to premiere on web

    Read more

  • Analysis Ukraine: ‘One bloody incident could scupper Geneva deal’

    Read more

  • Police seek arrest warrant for South Korea ferry captain

    Read more

  • Top Hollande adviser resigns over conflict of interest accusation

    Read more

  • Indian election: Votes for sale

    Read more

  • West African Ebola outbreak caused by new strain of virus

    Read more

  • Astronomers discover Earth-like planet that could support life

    Read more

  • Video: Tensions remain high in Mariupol despite Geneva deal

    Read more

  • In Prijedor, survivors fight to keep memory alive

    Read more

  • Deadly avalanche strikes Everest in worst-ever disaster

    Read more

  • With a strong French presence, veterans and fresh faces, Cannes aims to please

    Read more

  • Russia and West agree on steps to ease Ukraine crisis

    Read more

  • Mob launches deadly attack on UN shelter for S. Sudan civilians

    Read more

  • Eurostar train mishap causes 'severe' delays

    Read more

  • Chelsea Clinton announces she's pregnant

    Read more

  • French troops free five aid workers kidnapped in Mali by Islamists

    Read more

  • In pictures: Iranian woman pardons son’s killer at the gallows

    Read more

  • After cup defeat, Spanish pundits read last rites for Barcelona

    Read more

  • India heads to polls in single largest day of voting

    Read more

  • Ukraine talks open in Geneva as Putin talks tough on TV

    Read more

  • Pro-Russian separatists killed in attack on Black Sea base

    Read more

  • Man executed in Texas for 2002 triple murder

    Read more

  • Scandal-hit French doctor Jacques Servier dies at 92

    Read more

France

Unemployment in France surpasses three million

©

Latest update : 2012-09-27

The number of unemployed people in mainland France surpassed three million for the first time since 1999, new labour ministry data showed Wednesday, as French President François Hollande prepares to unveil his 2013 budget this week.

French unemployment topped three million for the first time in over a decade, data showed Wednesday, as the country faces a yawning budget gap like those plaguing its southern eurozone neighbours.

The number of jobless in mainland France swelled to 3.011 million in August, 23,900 more than in July, Labour Ministry figures showed, the first time since 1999 that the figure has breached the three million mark.

Some 4.494 million people, including some who are partially employed, have registered themselves as actively looking for work on the French mainland. This is 40,800 more than in July and a record since the ministry began collecting comparable data in 1991.

"These three million unemployed embody the failure of economic and social policies undertaken during the last few years," the ministry said in a statement.

"In the face of this difficult report, the government is determined to implement as soon as possible" reforms, it said.

With the number of people out of work already reaching 2.99 million in July, the French government had expected a further rise in August, with Labour Minister Michel Sapin saying in early September that the symbolic figure of three million had been breached.

French President Francois Hollande earlier this month pledged to reverse the trend in a year's time, a target that Sapin said Tuesday was "reachable".

However, an economist at the French Economic Observatory, Eric Heyer, believes that annual growth of 1 percent is necessary to stabilise the rate of unemployment and that 1.5 to 2 percent in growth is needed to reduce the number of people out of a job.

The government has forecast 0.3 percent growth for the year, and has so far kept its 2013 target at 1.2 percent, which most economists now consider unrealistic.

France's central bank this month predicted that the eurozone's second biggest economy would contract by 0.1 percent in the third quarter after flat-lining for the first half of the year.

Amid the gloom, French consumer confidence slipped two points in September from the previous month, the national statistics office said earlier Wednesday.

The consumer confidence index fell to 85 points from 87 in July and 90 in June, figures released by INSEE showed.

The data came a day after another set of INSEE figures showed French business leaders and industrialists deeply pessimistic about their business prospects.

In line with a pact agreed by eurozone leaders earlier this year, France is committed to reducing the size of its deficit from around 4.5 percent of gross domestic product (GDP) this year to 3.0 percent in 2013 and to balance the budget by 2017.

Hollande, who took power in March, unveils his first budget on Friday, which is aimed at generating 30 billion euros in new taxes and savings to plug a budget gap and to kickstart the flagging economy.

Slashing government overspending is seen as vital to ensure the survival of the euro amid a lingering debt crisis but economists have warned that a sluggish economy and the impact of the planned fiscal measures will make it hard for these targets to be met.

(AFP)

Date created : 2012-09-27

  • FRANCE

    Hollande unveils two-year plan, billions in new taxes

    Read more

  • FRANCE

    France heading back towards recession

    Read more

  • FRANCE

    French lawmakers approve tax hike on rich

    Read more

Comments

COMMENT(S)