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French Joblessness Surges To New Record High (Up 30 Of Last 32 Months)

Tyler Durden's picture




 

It would appear French President Francois Hollande's promise to bring jobs to the nation continues to fail dismally. Perhaps it was his recent trip to the US, but French Jobseekers rose more than expected for the 3rd month in a row to a new record high of 3.316 million. Joblessness has now risen for 30 of the last 32 months. The last 5 months have seen jobseekers reaccelerate - surging by 2.5% (the most in 6 months). So, in a nutshell, things are getting worse, faster for the 2nd largest economy in Europe (and 5th largest in the world).

 

 

Charts: Bloomberg

 

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Wed, 02/26/2014 - 13:11 | 4480568 TheBoyPlunger
TheBoyPlunger's picture

Clearly this will make Cramer even more bullish on Europe.

Wed, 02/26/2014 - 13:14 | 4480573 Indian_Goldsmith
Indian_Goldsmith's picture

Yay! More free time to do what the young love ! Why waste precious youth in doing boring work!!!! 

Obama is proud and looking forward to the same freedom in the us. 

Wed, 02/26/2014 - 13:14 | 4480579 onewayticket2
onewayticket2's picture

a 75% marginal (punitive) rate tends to steer investment capital and the jobs it creates elsewhere.

Wed, 02/26/2014 - 13:16 | 4480584 FuzzyDunlop21
FuzzyDunlop21's picture

BULLISH

Wed, 02/26/2014 - 13:46 | 4480744 PontifexMaximus
PontifexMaximus's picture

No, hyperbullish, carte blanche for Mario

Wed, 02/26/2014 - 13:16 | 4480590 Ban KKiller
Ban KKiller's picture

Free Trade plus cheap labor plus outmoded business models...ba-bam..modern Europe. 

Wed, 02/26/2014 - 13:18 | 4480598 Rising Sun
Rising Sun's picture

The French are lazy fucks, so this works well with their dogshit culture.

Wed, 02/26/2014 - 13:21 | 4480621 Indian_Goldsmith
Indian_Goldsmith's picture

Is that related to theirs being a very liberal culture? Are liberals inherently lazy??

Wed, 02/26/2014 - 13:23 | 4480634 nightshiftsucks
nightshiftsucks's picture

Yes they are.

Wed, 02/26/2014 - 13:33 | 4480679 Harbanger
Harbanger's picture

Not necessarily, some work very hard at achieving their goals.  What they are is inherently collectivist, statist, hypocrites and delusion.

Wed, 02/26/2014 - 13:54 | 4480782 nightshiftsucks
nightshiftsucks's picture

I stand corected,haha.

Wed, 02/26/2014 - 14:39 | 4480998 Oldwood
Oldwood's picture

Yes, there are many thieves willing to work harder at theft than they ever would at an actual job. It is amazing sometimes at what some people will do to get something for nothing.

Wed, 02/26/2014 - 13:31 | 4480671 Stoploss
Stoploss's picture

Well, after being in Africa as long as they have, one would think Frankie would have brought back some new help.

Wed, 02/26/2014 - 13:33 | 4480680 swiss chick
swiss chick's picture

yeah, but the help doesn't want to work either!!!!

Wed, 02/26/2014 - 13:18 | 4480600 Gordon Freeman
Gordon Freeman's picture

Does anyone actually give a shit about "French unemployment"??  This is a country in which it is impossible to tell the difference between the un/employed...

Wed, 02/26/2014 - 13:59 | 4480804 Full Patata
Full Patata's picture

whoaaa, you sound like an expert. How much time did you spend in France?

What part exactly of "2nd largest economy in Europe (and 5th largest in the world)" can't you comprehend?

Wed, 02/26/2014 - 13:18 | 4480604 sunny
sunny's picture

So what?  Euroland is in a state of collapse and has been for the last 3+ years.  European sheeple seem to like their nanny state and I presume they can keep it going for another bunch of years.  This isn't news.

Wed, 02/26/2014 - 13:38 | 4480681 HardAssets
HardAssets's picture

Now why should the Ukraine want to join the EU  ?   Some of us just don't get it.

 

 

'Loans' made up out of nothing.

Lots of money/resources stolen. (But lots of 'campaign money' for those who'll sell out their countrymen.)

'Loans' demanded to be paid back.

'Austerity' (for the people, not the banksters).

Loss of sovereignty because of requirements of the 'loans'.

Ya don't have to roll tanks to do an invasion, ya know.

Wed, 02/26/2014 - 13:39 | 4480704 DaveA
DaveA's picture

Now why should the Ukraine want to join the EU?

So they can emigrate, work for a few months, and then go on welfare.

Wed, 02/26/2014 - 13:24 | 4480638 nightshiftsucks
nightshiftsucks's picture

hahha,this shit is getting funny.

Wed, 02/26/2014 - 13:26 | 4480647 Smegley Wanxalot
Smegley Wanxalot's picture

Hard Landing, or a Hard Hollande-ing?

Only his latest girlfriend knows.

Wed, 02/26/2014 - 13:34 | 4480684 swiss chick
swiss chick's picture

That's funny!

Wed, 02/26/2014 - 13:33 | 4480682 monad
monad's picture

There is plenty of work on the eastern front.

Wed, 02/26/2014 - 13:35 | 4480688 swiss chick
swiss chick's picture

yeah, in Switzerland!

Wed, 02/26/2014 - 13:39 | 4480709 kjlowther
kjlowther's picture

Because everything they've done so far has been so successful, I guess they are going to have try some more of the same. I'm sure that will work out just fine.

Wed, 02/26/2014 - 13:48 | 4480743 Emergency Ward
Emergency Ward's picture

The recalcitrant economy refuses to respond to Hollande The Job Creator.

Wed, 02/26/2014 - 16:38 | 4481653 falak pema
falak pema's picture

The french economic mix has three components :

1° Selling Rafales that nobody wants to buy.

2° Beating the Françafrique drum in Mali/RCA  

3° Telling Oil Kings we want to be their new arms merchants when Us goes into retractment agnst, post traumatic Benghazi/Iraq withdrawal pains, after ME overreach and MIC bunga bunga hangover. (Its a bitch to have to taper your MIC dikk, top navy Seals n all, as Obammy has now officially said he will do to cut back boots on ground around the Non strategic ME-- Euro zone/Mena world).

Coming back to more prosaic knitty gritty ...Trying to Prosecute the Rafale's maker Serge Dassault-- who owns "le Figaro" national MSM paper (french Fox news)-- he ain't no ordinary Oligarch-- he just got elected by bribing a list of 100 local small wigs in his municipality and all hell is breaking loose in a royal, congressional tug of war,  as "YOU DON'T PROSECUTE AN OLIGARCH FOR HANKY PANKY IN VOTE BRIBERY ( WE AIN'T PUTINISTAN ! EGADS!)...

Hmm, looks like a lot of blinkers need to fall, not just the fact that France can't sell anything apart form perfume, wine and arms bazar!

No wonder our work force shrinks like tiny Tim.

But there is hope, we have a Minister of National productive resurrection....hmmm...with a title like that AND a passion to be the NEW, NEW Colbert that statist France desperately awaits; anything can happen!

(Just to complicate the Issue and appease the EC and Mutti, his boss Hollande sings : I'm all in to make France lean, mean and eurocompatible...now that is just pure right hand stoicism not knowing that the left hand is in vigorous, delusional, epicurien self-celebration)

Most likely, when the air clears, like Peking smog or Fuku fumes miraculously disappearing once again, we will pull our pants down to Google/Apple or whoever wants to build a naw plant in exchange for a tax break that will NEVER be published; Republican HONOUR oblige! 

France stays France; an enigma ! 

Wed, 02/26/2014 - 14:00 | 4480786 zippy_uk
zippy_uk's picture

The problem with Zero Hedge is the way things are presented in a negative light.

 

Just ireplace the title "French Job Seekers" with "French Welfare Seekers" and all is good - No?

Wed, 02/26/2014 - 14:18 | 4480884 Hopeless for Change
Hopeless for Change's picture

This must have been their objective when they elected socialists, no?

Wed, 02/26/2014 - 14:58 | 4481130 tony wilson
tony wilson's picture

these nunbers are not important.

what is important is we french are winning in mali.

today mali tommorow albania will be liberation.

we will show zem albainsche types not to make fun of are mighty leader hollande

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