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Unemployment highest for twelve years

Matthew Warren · 29 Nov 2011, 08:53

Published: 29 Nov 2011 09:30 GMT+01:00
Updated: 29 Nov 2011 08:53 GMT+01:00

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The number of job seekers in France rose again in October, taking figures to a 12-year high.

The main measure of unemployment published on Monday showed a 1.2 percent increase on the previous month, representing an extra 34,400 job seekers. 

The new total is up to 2,814,900, a 4.9 percent increase on October 2010, and is the highest since December 1999.

The number of unemployed rose in all age groups, with older workers being hardest hit. 

Employment minister Xavier Bertrand admitted the figures were "not good" in a television interview. 

He also acknowledged that the government would not achieve its ambition of getting the overall unemployment rate below 9 percent by the end of the year. 

The last calculation of the rate put unemployment at 9.1 percent. Business daily Les Echos reported on Monday that the OECD estimated that the rate could reach 9.9 percent by the end of 2012.

François Hollande, who will stand as the Socialist candidate in the 2012 presidential elections, denounced the "failure" of current president Nicolas Sakrozy.

"This is the symbol of failure of this president," he said at a press conference on Monday evening. 

Story continues below…



Matthew Warren (news.france@thelocal.com)

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Your comments about this article

2011-11-29 15:19:08 by maxbrando
You French people just do not get it, do you? Small and large businesses are not hiring because of the enormous social contract requirements put on them by the government if they do. Medical insurance, 7 week vacations, bonuses, etc. Labor unions in France have created this mess. Do you think unions will get you out of it? Of course not. It is time to break the unions apart by the Parliament
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