French Unemployment Hits Record High

The number of unemployed people in France rose to a fresh high last month, official data shows.

There are now some 3.2 million people seeking work in France, 11.5% more than a year ago and 1.2% more than in February, the labour ministry said.

The number of jobseekers is the highest since records began in January 1996.

The ministry does not express the job seeker figure as a percentage of the work force, as done by the International Labour Organisation.

Speaking earlier during a state visit to China, French President Francois Hollande said the government’s priority was tackling France’s rising unemployment.

“Everything the government does, in every ministry, must be to continue to strengthen the battle for jobs,” he told a news conference.

“I want all the French people to unite behind this one national priority.”

He has promised to reverse the rise in unemployment before the end of the year.

via BBC

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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