French joblessness exceeds 3 million for first time in 13 years
September 27 , 2012
France’s unemployment rate exceeded the 3 million mark in August for the first time in 13 years, official figures showed on Wednesday.
The number of registered jobseekers in mainland France rose by 23,900 last month to 3,011,000, a 9 percent increase year-on-year and the highest figures seen since June 1999.
The data marks the 16th consecutive monthly rise.
Labor Minister Michel Sapin cited the policies of conservative former-President Nicolas Sarkozy for the slowdown in the jobs market and rising redundancies during the current economic crisis.
Socialist Francois Hollande came into power in May with a pledge to boost the euro zone's second largest economy and counter rising unemployment.
However, his plans have failed to come to fruition following thousands of layoffs by major companies including carmaker Peugeot, drugmaker Sanofi, airline Air France-KLM and retailer Carrefour.