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France’s Unemployment at New Record High
The number of people without jobs in France rose 0.8% to a record 3.49 million in November, according to the Ministry of Labor.
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The number of people without jobs in France rose 0.8% to a record 3.49 million in November, according to the Ministry of Labor.
France's unemployment rate is now at 9.9%. The jobless total has now grown for three consecutive months and is highest (11.1%) for people more than 50 years old.
The government now estimates the country's gross domestic product will expand only 0.4% in 2014, down from its previous forecast of 1% growth. France's GDP grew only 0.3% in the third quarter this year.
President Francois Hollande, who has pledged to reduce unemployment, said in November he would not stand again for reelection in 2017 if employment fails to improve by then.
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