French Joblessness Soars To Record High; Rises For 36th Month In A Row

Tyler Durden's picture

More Hollande 'broken promises' as French joblessness reaches a new record high. Aside from the idiotic month when officials forgot to send text messages, this is the 36th month in a row of worsening employment in France. That must explain why, along with a collapsing PMI, French bond risk remains near record lows...


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graneros's picture

Actually this chart shows how fantastic things are. ZH'ers just don't know how to properly read a chart. Let me explain this chart from the progressive point of view. You see that dotted green line? Well that line goes from that mountain represented by the dark green bond risk line. Behind that mountain is the sun and the sun is shining down in the direction of the green dotted line.  It is shining down and creating green shoots. Two green lines the mountains and sunshine means everthing is great. Green shoots for all. You see how simple it is? Happy days are here again.

Vampyroteuthis infernalis's picture

Coming to a leftist, commie state near you. Add in pitchforks for effect!

Top Gear's picture

Are the new job seekers mostly immigrants who don't fit into society?

Yet libertarian ideals dictate "open borders" for nations. As does Barry. Not much difference, is there?

Anusocracy's picture

Libertarians also advocate that all property be privately owned, no welfare period, and government so small you could kill it with a flyswatter.

JRobby's picture

who don't fit into society

flacon's picture

How come the government can't create jobs by decree? Wealth for all in the socialist utopia. 

Nevsky's picture

It's not the type of jobs people volunteer for.

ShrNfr's picture

Fry Freedom Fucks.

screw face's picture


Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan Or Rubles

CrashisOptimistic's picture

Low growth = low bond yields.

How can there be bond default risk when the power to redefine default is given to not just the French government, but all governments, who would cooperate to prevent any defaults.

Money stuff is not the vehicle of destruction.  When you can redefine everything, how can it be.

Only oil takes it all down.  Soon.

SumTing Wong's picture

After 36 months, putain de merde!

NOTaREALmerican's picture

No worries,  everybody can work for the French railroads  (well,  somebody should there's no trains running now).

NOTaREALmerican's picture

They all look happy, healthy, and well fed.     A true worker's paradise!

I Write Code's picture

It's only the muslim and the young I'm sure.

COSMOS's picture

Their numbers keep growing, I think the average Muslim family has 5 kids/terrorISISts

crazytechnician's picture

Why work or start a business when the government will steal 80% of your income ? You may as well become a dosser.

Seahorse's picture

Getting that way everywhere..

SmallerGovNow2's picture

Bingo CrazyT.  I'm downsizing, cutting my income in half, and getting off the grid.  Not going to contribute taxes to the bottomless pit and be a slave for the progressives that want to give it all away when they cannot legitimately make an honest days wages productively...

Nevsky's picture

It's almost like it got worse under a Socialist. Kind of like in the USA. 


Salah's picture

Thomas Piketty will make everything right....not to worry.

Jack Sheet's picture

they should calculate unemployment the same way as BLS does - that way unemployment will be 0% as soon as there is no-one left in the work force.

chinoslims's picture

Isn't "French" and "joblessness" and "socialism" synonymous?

crazytechnician's picture

They will just raise corporation tax to 60% , income tax to 70% , VAT to 40% , social charges to 45% ,

There , problem fixed.

Emergency Ward's picture

...a few weeks of car burnings and some African military adventures.  Those are always good for economic surges.

crazytechnician's picture

They are getting Krugman over as an advisor , apparently he's told them to burn the cities down so they can be rebuilt. Will do wonders for GDP.

orangegeek's picture

and Barry's recent comment that the US should follow France's lead on social welfare


you can't make this shit up

Mark Urbo's picture

Yes, I caught that comment and laughed when O-hole said it.  He really thinks they are a model to follow - leftist ideology run amuck.

El Vaquero's picture


they should calculate unemployment the same way as BLS does - that way unemployment will be 0% as soon as there is no-one left in the work force.

There are lies, damned lies and then there's the Bureau of Labor Statistics.

brucyy's picture

But but ....! It's the rest of the world's fault !

wmbz's picture

So, this is good news right? Isn't that the goal? They will get to spend more time with their family, "the quality time". Live off of others... the ultimate dream.

This is what Moonbat Polosi said was good for Amerikans, so it should be good everywhere.

Oh yea, this will all end very well.


madcows's picture

would you buy a french bond now, knowing that the french government would be printing and buying in the near future in order to drive down bond rates?

of course not. same thing here is the US.  shits bad.  CB's are screwed.  all they can do is print.  why on god's green earth would you buy bonds.  or stocks for that matter.  the financial scales are so distorted that you have to be absolutely crazy to go near them.

CrashisOptimistic's picture

You buy bonds for price appreciation.  You WANT the yield to go down.

If you don't think yields are going down, then you foresee buoyant economic growth, because that's the only thing in the new normal that drives rates up.

goldhedge's picture

But but their high speed trains are so "efficient".

Duffy Duck's picture

Clearly, the French need many hundreds of thousands, nay, millions more Muslim immigrants.

Immigration always fixes everything, economy-wise.

Hmmm... so perhaps the inverse.... emigration is terrible for your economy!

If Mexico would simply stop letting its people leave, its economy would improve!


disabledvet's picture

"Great Depression." Very high unemployment...very low interest rates.

The "default prevention team" strikes again. First by believing such a problem does not exist (Trichet) and then by waiting too long to do anything about it. (Trichet again.)

I fail to see the contradiction between low interest rates and high unemployment.

o2sd's picture

The US has an estimated 4 million slaves. A good portion of them are Mexican. For every Mexican that makes it across the border it is -1 mouth to feed in Mexico and +1 slave in America. Win - Win.

LukeWorm's picture

It must be the French weather! 

Jack Sheet's picture

A gendarme approaches a shadowy figure in the Rambouillet Forest.
- M'sieur, M'sieur, Qu'est-ce que vous faites, là?
-Alors, je m'abuse.
-Excusez, Monsieur. Vive le sport!

RobD's picture

35 are getting the axe today at my company, second set a of layoffs this year. This is in the US so no big deal, it's bullish!

Duffy Duck's picture

Yeah but you're probably more or less a superfluous middle-man, taking a cut but not really doing anything of value yourself.

You might want to consider heading to Mexico, then sneaking back across the border... Obama will give you a bus ticket to the amnesty city of your choice, a cell phone, and a free copy of "Dreams from My Father" -one of two "auto" biographies written by a man before he hit his mid 40s...

RobD's picture

Funny stuff Daffy, unfortunatly two fellow ZeroHedgers got there walking papers today.

Chuck Knoblauch's picture

The French need to start eating a low-fat/high-carb American diet.

This will increase the mortality rate.

It will also help the health industry by providing more customers to hospitals and doctors.

It's the American way!!!

Obesity = Profits (Rockerfeller Group)

More Heart Disease & Cancer is the way to depopulate your country without violence.

JenkinsLane's picture

There's never been a better time to buy in sunny Marseille...

ghostzapper's picture

Gonna be as pleasant as french kissing Hillary AND Yellen when Da Boys all try to exit those frenchie bonds at the same time.  Come on over there's still juuuuuusssstttt a little bit more space on this side of the boat lol.