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France

French unemployment rate nears 1997 record high

Text by News Wires

Latest update : 2013-03-26

The number of unemployed people in France rose to 3.187 million in February, the labour ministry announced Tuesday, nearly reaching a record high set in January 1997.

The number of unemployed in France rose by 18,400 in February to 3.187 million, the labour ministry said Tuesday, a level just shy of a record reached in 1997.

Unemployment in the eurozone's second largest economy hit its modern day record of 3.195 million in January 1997.

It is a major challenge 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.

The rise in February represents a 0.6 percent month-on-month increase and a 10.8 percent rise annually. The ministry said workers over 50 were the worst hit.

(AFP)

 

Date created : 2013-03-26

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