French jobless rate stays stable at ten percent

French jobless rate stays stable at ten percent
May Day protests in France where marchers demanding jobs and labour reform.
French unemployment was stable in the second quarter at around 10 percent, official data showed on Thursday, as the EU's second-largest economy continues to grapple with a stagnant economy.

Including overseas territories, the unemployment rate among the working population was also largely unchanged from the previous three months at 10.3 percent, equivalent to around 2.9 million people, the data from Insee showed.

Over the past year, the unemployment rate in all of France's territory has risen 0.2 points.

The jobless rate among people aged under 24 was down 0.6 points but was up by an equivalent proportion among the over-50s.

France posted zero growth in the second quarter, after having grown 0.7 per cent in the first three months of the year.

The stubbornly high level of unemployment has cast a pall over Francois Hollande's presidency.

The French leader had promised to halt the rise in the number of jobless by the end of 2013 — a pledge he failed to keep.

He has said he will not seek a second term in 2017 elections if the situation persists.

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