French Jobless Rate Jumps Above 8% for First Time Since 2021

French unemployment unexpectedly rose to the highest level in five years, adding to signs the euro area’s second largest economy was already on a weak footing when the Iran war began.

With joblessness increasing across all age categories, the rate reached 8.1% in the first quarter, data from national statistics agency Insee showed. Economists surveyed by Bloomberg had forecast a slight decline to 7.8% from 7.9% at the end of last year.