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March 5, 2010

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Home » Business » Economy

French jobless hits 10%

FRANCE'S unemployment rate jumped to 10 percent in the fourth quarter, the highest level in a decade, the national statistics office said yesterday.

Jobless rates have been climbing for seven quarters, since the economy started to dip into recession in 2008. This time, third-quarter unemployment was at 9.5 percent.

The last time French employment was at 10 percent was 1999, said Insee, the statistics agency.

Excluding France's overseas territories and provinces, where joblessness rates are higher, the unemployment figure was at 9.6 percent.

The figure for workers under 25 in mainland France was a whopping 24 percent, which analysts said showed structural problems in the French labor market.


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