French Unemployment Rebounds to Reach Record High
26 November 2015 - 5:29PM
Dow Jones News
By William Horobin
PARIS--The number of registered job seekers in France jumped in
October, reversing declines in September to set a new record high,
figures showed Thursday.
The number of category A job seekers--defined as registered job
seekers who are fully unemployed--rose by 42,000 in October from
September to reach 3,589,800. That marked increases of 1.2% on the
month and 3.7% on the year.
The rebound in the number of unemployed people casts doubt over
the strength of the economic recovery in the eurozone's
second-largest economy.
After a week second quarter, recent figures showed gross
domestic product expanded in the third quarter, putting the French
economy on track to record its strongest year since Francois
Hollande took office in 2012. But Thursday's unemployment figures
indicate that the job market isn't following suit.
The constant rise in unemployment is a thorn in Mr. Hollande's
side just as opinion polls show his popularity is increasing after
he implemented hard-line security measures and stepped up a bombing
campaign against Islamic State in response to this month's Paris
terror attacks.
The French leader has said he won't run for re-election in May
2017 if his policies--job subsidies and tax breaks for
employers--fail to bring down unemployment.
Write to William Horobin at william.horobin@wsj.com
(END) Dow Jones Newswires
November 26, 2015 12:14 ET (17:14 GMT)
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