France jobless claims hit record levels
May 31 , 2012
France had more jobseekers in April than any other time this century as numbers rose for a twelfth consecutive month.
The country’s labour ministry has warned of more layoffs in the next coming months.
Registered jobless numbers rose by 4,500 to 2.89 million, the highest since September 1999.
The ministry readout was the first since recently elected president, Francois Hollande, named an interim government earlier this month.
Hollande’s victory at the polls came on the back of a tax-and-spend program. He has promised to create 150,000 state-aided jobs and recruit 60,000 employees in the national education service during his five-year term.