Unemployment In France Hits 14 Year High

Category: World / Nov 27, 2012 2:07PM EDT
The number of people out of work in France jumped in October, according to data released by the Labor Ministry on Tuesday (November 27), hitting its highest over 14 years and piling pressure on President Francois Hollande's government to stop the tide of job losses. The data showed the number of registered job seekers in mainland France rose by 45,400 in October to 3.103 million, taking the total to its highest level since April 1998. Unemployment has been rising for 18 straight months in France. The labour ministry said there was a risk the figures could get worse and that measures taken so far had yet to produce results. The Socialist government unveiled a package of measures at the start of the month, including tax rebates for companies, aimed at boosting France's industrial competitiveness and safeguarding jobs.