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French Jobseekers Reach All-Time High

Tyler Durden's picture




 

Despite 'market-based' appearances (CAC near price highs and OATs near low spreads), the reality in France is dismal and growing more dismal. As we have explained in great detail (here and here most recently) France's economic fortunes are depression-like and today's Jobseeker data merely goes to confirm this. The total number of Gallic Jobseekers rose to 3.26 million, the highest ever on record and is accelerating at its fastest YoY rate in over three years. This month's gain of 39,800 was far above the 30,000 expectation but have no fear as Mr. Hollande promises to do whatever it takes. Interestingly, just as in the US, it is the young (under-25 +10,800) and middle-aged (25-49 +21,400) demographic that is suffering the most while the over-50 population saw only modest rises in joblessness. No green shoots here for the EU political elite to proclaim the crisis is behind us...

 

And earlier from Reuters:

The number of people out of work in France hit a record high in April, the daily Les Echos said on Thursday, casting more doubt on President Francois Hollande's pledge to reverse a long-running rise in unemployment.

 

The number of registered jobseekers rose by about 40,000 in April from March's previous high, the financial daily reported ahead of the official publication of the figures later on Thursday. It did not quote its sources.

 

The data was widely expected to show another increase, marking two straight years of monthly rises and the worst level since records began in January 1996.

 

Without confirming the data, Prime Minister Jean-Marc Ayrault told regional newspapers he expected April unemployment data "would not be good."

 

"We have just had two quarters of a recession that is hitting both France and the euro zone. In this context, the job market cannot take off," he said in an interview published on Le Progres de Lyon website.

Chart: Bloomberg

 

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Thu, 05/30/2013 - 12:24 | 3610699 idea_hamster
idea_hamster's picture

"French jobseeker" -- my new fav oxymoron.

New all-time high = "both"?

Thu, 05/30/2013 - 12:29 | 3610722 flacon
flacon's picture

If I hear "All Time High" one more time I'm going to whack someone! Fuck you Jamie Dimon! 

Thu, 05/30/2013 - 12:35 | 3610731 Cult_of_Reason
Cult_of_Reason's picture

Shut up!

Europe is "recovering" and "turning around".

Thu, 05/30/2013 - 12:40 | 3610743 francis_sawyer
francis_sawyer's picture

OT: Hey TYLERS!... How about a "Thursday Humor" Thread... [QE2 to strike Earth]...

~~~

http://cosmiclog.nbcnews.com/_news/2013/05/30/18599228-asteroid-1998-qe2...

@flacon

"All Time High" [by Rita Coolidge] was the theme song to 'Octopussy'... What the hell u got against 'Octopussy'?...

Thu, 05/30/2013 - 12:43 | 3610759 francis_sawyer
francis_sawyer's picture

<=== MOAR Octopussy

<=== Less Octopussy

Thu, 05/30/2013 - 12:46 | 3610765 Abraxas
Abraxas's picture

The Frogs should spend less money arming themselves and invading African nations, and more money in securing the future of its own nation (preferably on buying gold and silver)

Thu, 05/30/2013 - 12:51 | 3610772 Dr. Engali
Dr. Engali's picture

Can you say that? Talking about pussy is bordeline harrassment, let alone eight of them. That may be a policy violation.

Thu, 05/30/2013 - 13:06 | 3610826 insanelysane
insanelysane's picture

Do French job seekers seek jobs with as much vigor as French job holders do working on the job?

Thu, 05/30/2013 - 13:24 | 3610872 francis_sawyer
francis_sawyer's picture

@Dr.

~~~

Well ~ Let me put it to you this way... The day that "less" pussy is demanded [& eventually not desired at all] will pretty much be a watermark event in humanity...

Even Rachel Maddow & Ellen DeGeneres would be disingenuous in declaring they didn't want MOAR pussy...

Thu, 05/30/2013 - 13:40 | 3610934 Colonel Klink
Colonel Klink's picture

I think I just threw up in my mouth at the thought.

Fri, 05/31/2013 - 01:13 | 3612768 e-recep
e-recep's picture

imagine hillary's cankles, it should do the trick.

Thu, 05/30/2013 - 13:11 | 3610838 PiltdownMan
PiltdownMan's picture

Ah, the joys of socialism!

Thu, 05/30/2013 - 13:40 | 3610936 WVO Biker
WVO Biker's picture

I just returned from a few days from near St. Giron Plage (Landes) in the south west of France. You cannot believe how friendly, polite and happy people are there. J'aime la France.

Thu, 05/30/2013 - 12:35 | 3610732 Dr. Engali
Dr. Engali's picture

What if it's..."gold hit's another all time high"? I know I'll be whacking something, and it's not Jamie Dimon.

Thu, 05/30/2013 - 12:48 | 3610773 Abraxas
Abraxas's picture

If that happens I'll celebrate by paying someone else to do the whacking.

Thu, 05/30/2013 - 12:36 | 3610741 SafelyGraze
SafelyGraze's picture

rentseeking = rentier

jobseeking = jobier

jobbier?

workier?

employmentier?

dronier?

serfier?

wagier?

 

Thu, 05/30/2013 - 13:48 | 3610963 Groundhog Day
Groundhog Day's picture

Flacon....."All Time High"

Now please go whack a banker, preferably one whos name starts with the letter "B"

Thu, 05/30/2013 - 12:27 | 3610708 suicidalpsychologist
suicidalpsychologist's picture

As a french who moved to north america...i can assure you unemployment is vastly higher than that in france. Probably close to 8 if not 10 millions people are jobless, and the muslim population is probably between 15 and 20 million already. If people knew the true numbers, they d be scared shitless. Oh, wait....

Thu, 05/30/2013 - 12:30 | 3610723 JJ McApe
JJ McApe's picture

no need to get racist here.

but yeah just as always blame it on the muslims.

jeeez

Thu, 05/30/2013 - 18:10 | 3610758 suicidalpsychologist
suicidalpsychologist's picture

how is that "racism" to say nine muslims out of ten who moved to europe are lazy parasitic assholes who are waiting for the white infidels to disapear in order to occupy their land once and for all and to extend their dar el islam, with the reamining one out of ten coming to "integrate and assimilate western, occidental CHRISTIAN values" ?

It's just a fact. And that's just how the elites who imported these millions of muslims to replace the historically white middle and lower social classes wanted it to be. The irony being that ultimately these muslims are not going to vote for the corrupt elites who imported them in the west, but for their own muslim leaders.

 

Oh and btw i lived in paris suburbs for 26 years, I guess i know more about the cold hard reality there than you.

Thu, 05/30/2013 - 12:28 | 3610716 JJ McApe
JJ McApe's picture

and the problem is this may be only the tip of the iceberg. a LOT of unemployed are in training, or education WHICH is not included in the statistics.

so you can say that the real unemployment is 33% - 45% higher.

Thu, 05/30/2013 - 13:38 | 3610928 Son of Loki
Son of Loki's picture

French Foreign Legion in Mali has a few openings, I've heard rumor.....

Thu, 05/30/2013 - 12:29 | 3610721 fonzannoon
fonzannoon's picture

Captain America's job may be opening.

"The tourists just looked around like they were enjoying the moment,” Bread and circuses.

http://losangeles.cbslocal.com/2013/05/30/superhero-impersonators-throw-punches-on-streets-of-hollywood/

Thu, 05/30/2013 - 12:32 | 3610727 Dr. Engali
Dr. Engali's picture

Maybe they should elect a socialist elite to fix everything....oh wait...

Thu, 05/30/2013 - 12:44 | 3610764 francis_sawyer
francis_sawyer's picture

lol ~ Might need an 'appointed' Czar for that as well...

Thu, 05/30/2013 - 12:37 | 3610742 Motorhead
Motorhead's picture

Well, it shouldn't be too hard for the French unemployed to find jobs.  I mean, Sarkozy went all out to save the newspaper/print industry, so the Want-ads should be awash with opportunity.

Thu, 05/30/2013 - 12:54 | 3610799 orangegeek
orangegeek's picture

Yes it must be difficult to find jobs today that include sitting on your ass for four hour lunches in the job description.

 

 

Thu, 05/30/2013 - 13:40 | 3610939 bichat
bichat's picture

In my job we get 30mn lunch break!

Thu, 05/30/2013 - 13:44 | 3610950 Colonel Klink
Colonel Klink's picture

Unless you're looking for a union boss position.

Thu, 05/30/2013 - 12:56 | 3610804 brucyy
brucyy's picture

This is obviously due to a lack of central planning , and a global conspiration from all those dirty anglo-saxons and their filthy german friends . 

OUi ! . Nationalize bitches !

 

 

Thu, 05/30/2013 - 13:18 | 3610860 yogibear
yogibear's picture

Build more mosques for France. That should keep them employed. France is loosing any culture it had.

Why learn Fench when it will be replaced by Arabic eventually.

Thu, 05/30/2013 - 13:37 | 3610916 Son of Loki
Son of Loki's picture
'The Champs Elysee is a battlefield': Riots on the streets of Paris....


 

http://www.dailymail.co.uk/news/article-2324134/Football-fans-David-Beck...

 

 

Viva la France!

 

What ya gonna do with those fervent French football fans....

Thu, 05/30/2013 - 15:00 | 3611191 lolmao500
lolmao500's picture

Funny, I know several people in France... they want to get the hell out of there as fast as possible... and the French people I know here... they never want to go back...

And the French economy hasn't even collapsed yet! LOL!

Thu, 05/30/2013 - 16:14 | 3611409 tony wilson
tony wilson's picture


French Jobseekers Reach All-Time High

i am french dis is not impotant

what is impotant is are hero holland has arrested a man wis a beard 

from syria who cut one of hour legionaires

french marines you nose what i means english.

we beliefs it is a plot like london army killer last week.

are armed legions should be allowed to keep paris safe wis heavy caliber machine guns.

dis is freedom no.

i have an ugly wife and 2 loveres 1 male 1 female yes life is good under holland.

soon we take the syrian oil and we be flush again

Thu, 05/30/2013 - 17:13 | 3611583 Don Diego
Don Diego's picture

although racial statistics are strictly forbidden in France, there is one interesting proxy. It is a genetic test that is done on all the new born babies of African origin to find out if they are likely to develop a disease"(whose name I forgot). Well, 32% of the "French" babies are tested. France will be mostly African before most of us arrive to old age.

Mon, 06/03/2013 - 12:01 | 3620391 medium giraffe
medium giraffe's picture

With Draghi in Hong Kong, French ministers have been unable borrow his Pig Lipstick, specially formulated for use on money supply figures, Eurozone debt reports, unemployment data and Angela Merkel.

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