French unemployment 13-year high and crosses the 3 M unemployed threshold

France’s unemployment rate rose to its highest level in 13 years in the second quarter, official data showed on Thursday, in a setback to the Socialist government, which was elected on a pledge to bring down the jobless rate.

The rise in unemployment to 10.2 percent, measured according to the International Labour Organisation’s (ILO) criteria, comes as the euro zone’s second-largest economy has posted three consecutive quarters of zero growth.

Many economists predict unemployment, which stood at 10.0 percent in the first three months of the year, will continue to rise as companies seek to rebuild margins.

A number of French companies have recently announced plans to layoff workers, including retailer Carrefour (CARR.PA) and car maker Peugeot (PEUP.PA)…

via French unemployment hits 13-year high | Reuters.

France crosses the 3 million unemployed threshold 

The threshold of three million unemployed was actually broken in France but is not a scoop, said Sunday the Prime Minister, Jean-Marc Ayrault, who called extremely concerned about the employment situation .

This figure is indeed reached, according to July data, adding statistics for metropolitan France and overseas departments, argued the head of government.

“You give the impression that this is a scoop, these figures were known from last week, you should be more careful,” said Jean-Marc Ayrault told reporters who asked on France Inter.

“There are very violent, the numbers,”  (“Il sont très violents, ces chiffres”) he added.

via La barre des trois millions de chômeurs franchie – Le Point. (Freely translated and adapated by Job Market Monitror)