French Unemployment Hits Record High

French unemployment hit a record high of 3.3 million in December, in a further blow to the economic policies of Socialist President Francois Hollande.

The number of people who were fully unemployed rose by 10,200 or 0.3 percent in December, according to the French labor ministry. For 2013 as whole, unemployment rose by 5.7 percent.

“Even though over recent months the pace of labor market deterioration has halved from year-ago levels, it has failed, to stabilize despite the government’s efforts to reverse the negative trend in the labor market,” said Fabrice Montagne, an economist at Barclays Research in an evening note.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza