Open

Coming up

Don't miss

Replay


LATEST SHOWS

THE OBSERVERS

'Flying coffins' in Ivory Coast and a rich Maltese couple rescuing migrants

Read more

FOCUS

London now the world's most expensive city

Read more

WEB NEWS

USA: Ebola Halloween costumes spark outrage online

Read more

IN THE PAPERS

Jokowi: 'A new hope' for Indonesia

Read more

IN THE PAPERS

Christophe de Margerie, a jovial and strategic boss

Read more

AFRICA NEWS

Exiled family returns to Somaliland

Read more

DEBATE

Whose boots on the ground? Turkey wary of Syrian Kurds (part 2)

Read more

DEBATE

Whose boots on the ground? Turkey wary of Syrian Kurds

Read more

THE INTERVIEW

Interview: Ebola 'a wake-up call', says World Bank chief

Read more

Europe

French unemployment level hits 15-year high

Text by News Wires

Latest update : 2013-02-26

Unemployment numbers in France rose by 43,000 in January to 3.16 million, an increase of 10.7 percent from last year, the labour ministry revealed on Tuesday. The figure is at its highest since January 1997, when it reached 3.19 million.

The number of registered French unemployed rose by 43,000 in January to 3.16 million, the labour ministry said Tuesday, to just shy of a 16-year record.

The ministry said the number of registered unemployed rose by 10.7 percent from last year.

Unemployment in the eurozone's second largest economy hit its modern day record of 3.19 million reached in January 1997.

Rising unemployment is a setback for Socialist President Francois Hollande, who has pledged to curb the unemployment rate from the current level of more than 10 percent to a single-digit figure by December.

But mounting economic problems have already forced Hollande to abandon a goal to reduce the fiscal deficit to 3 percent in line with European Union norms after slashing this year's growth forecast.

His government is struggling with weak growth, poor competitiveness, thousands of layoffs and general economic gloom.

Hollande has however rejected undertaking massive additional austerity measures this year, arguing they would only slow growth and further aggravate the country's finances.

(AFP)

Date created : 2013-02-26

  • EUROZONE

    Eurozone recession to last another year

    Read more

  • FRANCE

    Frenchman self-immolates over unemployment benefits

    Read more

  • FRANCE

    Suicide by self-immolation a rising trend in France

    Read more

COMMENT(S)