Number Of French Jobless Rise To New Record

Tyler Durden's picture

With "recoveries" like these who needs staged, false flag conflicts and wars covering over 10% of the globe? Well, socialist France for one which moments ago announced that total jobless rose from 3.389 million to 3.398 million, a new record high. Surprisingly, while the year-over-year unemployment change for people under 25 declined by 3.1%, it was workers 25-49 which saw a material 3.3% increase in joblessness, but it was workers aged 50 and older that saw a veritable surge in unemployment, rising by 11.5% from a year ago. Surely, just like in the US, this is due to young people retiring in droves.

Reuters reports:

The number of people without a job in France rose in June to yet another record in the latest blow to President Francois Hollande's efforts to get unemployment falling.

The Labour Ministry said the jobless total in mainland France rose by 9,400 last month to 3,398,300, up 0.3 percent over one month and 4.0 percent over one year.

Hollande has seen his popularity collapse to record lows for a French president as he failed to live up to promises to get unemployment declining.

The Socialist leader is counting on plans to phase out 30 billion euros ($40.29 billion) in payroll tax on companies to get them investing and hiring.

In one ray of light for the job market, the Labour Ministry said the number of job offers received by the state employment agency had risen 5.4 percent in June from May.

The good news for France, which like Venezuela is on its way to becoming another socialist utopia, is that it sill has headlines like these to look forward to:

And now, time for France to engage in another meaningless conflict in west Africa.