French Unemployment Jumps, Increasing Pressure for Growth Push
This article is for subscribers only.
French unemployment rose to a 13-year high in the second quarter as companies cut staff to cope with a stalled economy, adding pressure on President Francois Hollande to fulfil a campaign pledge to revive growth.
The jobless rate based on International Labor Organization standards climbed to 10.2 percent of the population from 10 percent in the previous three months, national statistics office Insee in Paris said today. Excluding France’s overseas territories, the rate was 9.7 percent, compared with a median forecast of 9.8 percent in a Bloomberg News survey.