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Monday, September 3, 2012

French unemployment hits 13-year high

With many recent layoffs in the manufacturing sector, job seekers are struggling to find work [GALLO/GETTY]
The number of unemployed people in France has broken past the three million barrier for the first time since 1999, the country's leaders say.
The latest total adds pressure on President Francois Hollande, whose administration is under attack four months after taking power for not doing enough to fix the economy. France's unemployment rate is currently 10 per cent.
Breaking the three million mark carries more symbolic importance than economic significance, but the news was covered extensively in the French media over the weekend. The employment ministry says the three million threshold was crossed in 1996 and again in 1999.
Michel Sapin, the country's employment minister, confirmed the total on French radio on Sunday and warned that the numbers would likely get worse.
Prime Minister Jean-Marc Ayrault called the numbers "very violent". The government announced last week that it had counted more than 2.9 million unemployed people in July, so the threshold was expected to be passed in August.

source: aljazeera

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