By William Horobin
PARIS--The number of people unemployed in France rose to a new
record high in October, figures showed Thursday, highlighting the
depth of the challenge President Francois Hollande faces to repair
the eurozone's second largest economy.
The number of unemployed--defined as registered job seekers who
are fully unemployed--stood at 3,460,900 in October, the labor
ministry said. That marked a 0.8% increase from September and a
5.5% increase from October 2013. The number of unemployed people
increased in every age category in October.
Since Mr. Hollande took power in May 2012, the ranks of the
unemployed have swollen by over half a million. That is despite the
socialist leader's efforts to increase employment with
state-sponsored jobs for young people and a more recent initiative
to cut labor taxes in a bid to get employers recruiting.
The French President is battling against prolonged economic
stagnation in France and the wider eurozone. Things aren't expected
to get easier anytime soon as the government forecasts economic
growth will only accelerate slightly next year from an expected
meagre 0.4% this year.
French Labor Minister Francois Rebsamen said in a statement that
the government will continue with its plans to roll out
state-sponsored jobs.
"In this period of weak growth, keeping up our efforts for
government employment schemes is crucial," Mr. Rebsamen said.
Write to William Horobin at william.horobin@wsj.com